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Wajax and Hitachi Announce Expansion of Direct Distribution Strategy
Wajax and Hitachi Announce Expansion of Direct Distribution Strategy Canada New...
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[{"type":"text","content":"\n \n \n \n Wajax and Hitachi Announce Expansion of Direct Distribution Strategy\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntar{\nTEXT-ALIGN: RIGHT\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n TSX Symbol: WJX\n \n \n \n \n TORONTO\n \n ,\n \n Aug. 19, 2021\n \n /CNW/ - Wajax Corporation (\"\n \n Wajax\n \n \") and Hitachi Construction Machinery Loaders America Inc. (\"\n \n Hitachi\n \n \") today announced that, effective\n \n March 1, 2022\n \n , 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 (\"\n \n HCM\n \n \"). Earlier today, it was announced by HCM and its partner that such joint venture would be dissolved, with an expected dissolution date of\n \n February 28, 2022\n \n .\n \n \n 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.\n \n \n Commenting on the change, Wajax's President and CEO,\n \n Mark Foote\n \n , 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.\"\n \n \n On behalf of Hitachi,\n \n Simon Wilson\n \n , 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 ...