Komatsu Ltd has signed an agreement with Bangkok Motor Works Co Ltd (BMW) to establish the joint venture company, Bangkok Komatsu Forklift Co Ltd (BKF), to sell and lease forklifts in Thailand.

The company is slated to commence operations on 1 April.

Komatsu and BMW will have a 40% and 60% stake in the BKF, respectively. The joint venture will handle new and used forklifts made by the Japanese manufacturer.

BKF will be created through a merger of a wholly owned BMW subsidiary that distributes Komatsu forklifts and a rental and used equipment joint venture owned 60% by BMW and the rest by Komatsu.

Forkliftaction.com News approached Komatsu for further details of the joint venture but the company declined to comment.