Wajax And Hitachi Announce Expansion Of Direct Distribution Strategy

Aug 19, 2021 - 4 years ago

Wajax Corporation (“Wajax”) and Hitachi Construction Machinery Loaders America Inc. (“Hitachi”) today announced that, effective March 1, 2022, the companies plan to expand their current Canadian direct distribution relationship to include construction excavators, mining equipment and related aftermarket parts.

Since 2001, these products have been supplied to Wajax via a third-party joint venture partner to Hitachi Construction Machinery (“HCM”). Earlier today, it was announced by HCM and its partner that such joint venture would be dissolved, with an expected dissolution date of February 28, 2022.

The expansion of the direct relationship between Wajax and Hitachi is expected to strengthen the competitive positioning of both companies in the Canadian construction and mining markets.

Commenting on the change, Wajax’s President and CEO, Mark Foote, stated “Hitachi is Wajax’s largest manufacturing business partner and a very important contributor to our strategy. We are very pleased that our direct relationship will be significantly strengthened. Working directly with our partners at Hitachi will provide Wajax with enhanced access to product development and improved market responsiveness. We look forward to building on this already strong partnership in the core markets of construction and mining, as well as in additional areas in the future.”

On behalf of Hitachi, Simon Wilson, Vice President of Sales, stated “Wajax is one of Hitachi’s largest and most successful independent distributors globally and has been a valued partner for over two decades. The Canadian market is key to Hitachi’s strategy, and we look forward to the benefits of an expanded direct relationship with Wajax as our national construction and mining partner. We believe this change will increase our market share by providing customers with products that lead the market in terms of value, performance and reliability.”

For further information, please see Hitachi’s related news releases at www.hitachicm.com/global/.

Wajax Corporation

Founded in 1858, Wajax (TSX: WJX) is one of Canada’s longest standing and most diversified industrial products and services providers. The Corporation operates an integrated distribution system providing sales, parts and services to a broad range of customers in diverse sectors of the Canadian economy, including construction, forestry, mining, industrial and commercial, oil sands, transportation, metal processing, government and utilities and oil and gas. For more information on Wajax, please visit the company’s website at https://www.wajax.com.

Hitachi Construction Machinery Loaders America Inc.

Hitachi Construction Machinery Loaders America Inc. Is a wholly owned subsidiary of Hitachi Construction Machinery, a global leader in the construction and mining machinery business including construction and ultra-class hydraulic excavators, wheel loaders, rigid frame dump trucks, compaction equipment, applications and mine management systems. For more information on Hitachi Construction Machinery, please visit the company's website at https://www.hitachicm.com.