Komatsu Ltd., the world¡¯s second-biggest maker of mining equipment, is going underground.
The joint venture with General Electric Co.¡¯s mining arm announced on Jan. 29 and set to begin in April will be the first step in Komatsu¡¯s foray into the market for subterranean mining equipment, Senior Executive Officer Kazuhiko Iwata said in a recent interview at the company¡¯s Tokyo headquarters.
Komatsu¡¯s absence from the market has prompted speculation that it would acquire a rival already active in the field. The Tokyo-based company, the first to offer driverless dump trucks, as well as hybrid excavators that use technology similar to that found in Toyota Motor Corp.¡¯s Prius car, may buy technology instead, Iwata said.
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