In an effort to expand its footprint and customer reach, Panafrican Equipment Group’s (PEG) local subsidiary Panafrican Equipment Kenya has unveiled a Ksh. 500 million facility on Mombasa Road that will serve as its regional headquarters.
PEG is the principal distributor of Komatsu, Wirtgen Group and AGCO machinery brands in Kenya, Rwanda, Burundi, Tanzania, Uganda, Nigeria, Sierra Leone and Dubai. Its product line includes equipment used in construction, quarry and aggregates, heavy and light mining as well power and energy sectors.
Speaking on the unveiling of the new regional HQ, PEG Founder and Chairman Charles Field-Marsham expressed optimism that the new investment would pay off and meet the needs of customers in the East African region.
“The combined cost for the new facility is Ksh. 500 million. We agree that there are challenges in the market at the moment but believe that things will thrive,” Mr. Field-Marsham explained.
On his part, PEG Chief Executive Officer (CEO) Scott McCaw similarly insisted that the company was looking for opportunities in the power and energy markets in order to expand its service portfolio and customer base.
“We believe that domestic needs for industry diversification, economic growth and infrastructure development will drive the mid to long term development of the energy and extractive sectors.
Before moving to the new complex, PEG had been leasing space on Bunyala Road Nairobi. The company has been operating in Kenya for the past 22 years having started out as a single source distributor of Komatsu construction equipment.
Three years ago, the company fully acquired Nakuru based Farm Machinery Distributors (East Africa) in an effort to tap into the country’s lucrative agro-based market. The exact value of the deal is however still unknown.