Business, Earthmoving News

Mitsui takes majority stake in Position Partners

Mining systems and Southeast Asian operations of Position Partners are likely to benefit significantly from the investment

Mitsui & Co, a global trading and investment company, has become the majority shareholder in positions and site automations solutions specialist Position Partners.

The stake purchase, which was announced on July 1, follows an initial investment made by Mitsui in 2019 when it purchased a 20 per cent stake in Position Partners.

The increase in investment was made through Mitsui’s Australian and Japanese entities and follows strong business performance made by Position Partners over the past three years.

Together, the companies will work to advance digital innovation across the construction and mining sectors by leveraging growth opportunities in intelligent positions solutions in Australia, New Zealand, and Southeast Asia.

With the support of Mitsui’s networks in the markets, Position Partners will accelerate the deployment of digital and automated systems across a range of earthmoving machines to improve the productivity, safety and sustainability of its customers in the construction, resources, and geospatial sectors.

Position Partners chief executive Martin Nix says the next chapter for the company is now full of opportunity following the investment.

“This announcement represents an exciting next step in our company’s evolution and growth. More opportunities for customers, employees, suppliers, and partners can be expected,” Nix says.

“Since 2019, we have launched initiatives that have been fostered through the Mitsui network, notably in our mining business. Mitsui has also enabled collaborations for two of our key services: Tokara, our construction site remote access and data transmission solution; and AllDayRTK, our national GPS network.

“Supporting new growth opportunities and leveraging our capabilities will provide an even better experience for customers.

“Our Southeast Asia and mining systems businesses can expect to be significant beneficiaries of Mitsui’s post investment strategic support.

“Mitsui recognises that our ability to deploy solutions to sites with various types of machinery, systems and software is critical to realising the full potential of digital innovation in the construction, mining and geospatial industries.”

To best facilitate continuity following the move, the incumbent Position Partners executive team will remain. The board will include three nominee directors from Mitsui.

Mitsui operating officer – mobility business unit one, Koichi Wakabayashi says the deal will build upon the united vision shared between both Mitsui and Position Partners.

“Mitsui looks forward to building on the already strong collaborative relationship we enjoy with the Position Partners team, working together toward our shared strategic goals to accelerate digital transformation and contribute to sustainable futures.”

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