BIA Group and Sumitomo have entered a strategic partnership that the two said will enable further growth in their businesses and generate synergies.
The agreement, which includes a minority investment by Sumitomo in BIA Group, brings together the companies’ long-standing track record as Komatsu distributors and top-level experience as independent OEM distributors in complementary geographies and industries, including the mining industry.
No financial details were disclosed.
BIA Group is the exclusive distributor of Komatsu equipment and other OEMs in Africa and in the Benelux region. Sumitomo, meanwhile, operates a diverse portfolio of businesses globally, including a longstanding experience in the distribution of Komatsu equipment and rental of equipment.
“By combining BIA Group’s and Sumitomo Corporation’s expertise, the partnership will enhance both companies’ market reach and efficiency,” the paid said in a joint announcement. “Specifically, Sumitomo Corporation will gain exposure to the mining and construction machinery market in the European and African geographies served by BIA Group, while BIA Group will benefit from Sumitomo Corporation’s global network and its experience in the distribution of Komatsu equipment in complementary geographies.”
They said the collaboration also allows for shared resources, knowledge exchange, and sharing both groups’ best practices. The result, they added, will be improved customer success and further development of the BIA Group’s portfolio of products and services.
Both confirmed there will be no impact on the relationships and daily interactions with suppliers, customers and other stakeholders of the BIA Group.
“We are very proud of the interest and trust shown by Sumitomo Corporation in partnering with BIA Group. This partnership allows BIA Group to set up new ambitions in the growing African market.” said BIA CEO Vincent Bia. “By leveraging both companies’ long experience in the distribution of Komatsu equipment, we will be able to strengthen our market position by offering innovating solutions to our customers in the construction, mining, transport, and energy segments.”
Source: biagroup.com and sumitomocorp.com