Mitsui & Co has increased its investment to become the majority shareholder Position Partners.
Mitsui’s strategy to accelerate digital transformation across multiple sectors including construction, resources, transport, and logistics, aligns with Position Partners’ positioning systems and support expertise.
The businesses will work together towards accelerating the deployment of digital and automated systems across all types of machines.
Mitsui will help Position Partners improve productivity, safety and sustainability in the construction, resources and geospatial sectors with the support of its networks.
“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,” Position Partners chief executive Martin Nix said.
Mitsui first invested in Position Partners in 2019 to hold a 20 per cent share in the company. Following Position Partners’ strong business performance, the company has become the majority shareholder.
“Since 2019, we have launched initiatives that have been fostered through the Mitsui network, notably in our mining business,” Nix said.
“Mitsui has also enabled collaborations for two of our key services: Tokara, 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.”
In particular, Position Partner’s Southeast Asia and mining systems businesses will benefit from Mitsui’s strategic support, Nix noted.
To ensure continuity, the existing Position Partners executive team remains. The Board will include three nominee directors from Mitsui.
Key system and product suppliers have endorsed the change.
“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,” Mitsui & Co operating officer, mobility business unit one Koichi (Marcos) Wakabayashi said.