[Press Release] Agreement on Establishment of A JV with MEGALIFT

8 July 2024, Tokyo, Japan - DENZAI K.K. (President and CEO: Kohki UEMURA; Head office: Minato-ku, Tokyo; Head office: Muroran City, Hokkaido), has announced that its subsidiary DENZAI Algeria SARL. (a company to be incorporated in September 2024 and 100% owned by DENZAI International Pte. Ltd.) and the largest heavy lifting and transport company in Algeria - MEGALIFT SRAL. (CEO: Choukri BOURAIOU, Head office: Bouchaoui 3 Groupe proprietes 204 N° 5, Cheraga . Alger, Algerie) have agreed with the establishment of a joint venture company named MEGALIFT DENZAI SARL. (hereafter "JV").

Background of JV Establishment

DENZAI has been looking for the opportunity to enter African market, and a partner as concrete foothold in the region for years. JV starts its business in Algeria, and it is projected to expand its business to not only in Algeria but also northern Africa and all over Africa.