Japanese equipment transporter Denzai takes control of Singapore peer
SINGAPORE, NNA - Denzai Holdings Inc., a Japanese company specializing in the lifting and transport of heavy equipment, has acquired a 71 percent equity stake in Huationg Holdings Pte. Ltd. for an undisclosed sum to beef up its infrastructure development business in Asia.
Denzai's local subsidiary, Denzai Singapore Asia Pacific Pte. Ltd., purchased 51 percent of Huationg stock from its founder's asset management firm and 20 percent from JA Mitsui Leasing Singapore Pte. Ltd. The remaining 29 percent is held by Japanese trading giant Mitsui & Co.'s regional arm, Mitsui & Co. (Asia Pacific) Pte. Ltd.
Set up in 2000, Huationg is engaged in crane operations, transport of heavy duty machinery, and port transport, among other businesses.
"There is great demand for the development of infrastructure systems in such areas as energy and mass transit in India and other emerging countries," said Kohki Uemura, managing director of Denzai's Singapore unit. "We will seek to expand our services by combining the Denzai group's customer base and engineering capabilities with Huationg's abundant human resources and equipment."
The Denzai group ranks first in Japan and 13th in the world in its total carrying capacity of equipment, according to the rankings of cranes and specialized transport announced in June by British-based industry magazine publisher KHL. (NNA/Kyodo)