Sumitomo Corporation (Headquarters: Chiyoda-ku, Tokyo; President and CEO: Masayuki Hyodo) has established a subsidiary, Sunstate Equipment Co., LLC (Headquarters: Phoenix, Arizona; CEO: Chris Watts) (hereinafter referred to as Sunstate). I have done so, so I would like to inform you. The Company has acquired his 100% of the assets and operations of Trench Shore Rentals, Inc. (Headquarters: Phoenix, Arizona) (TSR), a leading trench safety equipment rental company in the United States.
As demand for new infrastructure projects increases and safety standards at construction sites become stricter, the trench (*1) rental market is expected to reach approximately 300 billion yen by 2025. TSR operates in the Southwest United States and is a prominent company in the construction equipment rental sector, with a focus on gutter safety services across Arizona, California, and Texas. This acquisition provides geographic alignment with Sunstate's core markets in the region, as well as Washington, Oregon, Texas, Oklahoma, Georgia, North Carolina, and Florida. Sunstate expects this strategic move to double its share of trench safety rental revenues.
Sunstate has aggressively expanded its branch network and diversified its product offering since 2017 following its acquisition by Sumitomo Corporation. Leveraging its established industry expertise, Sunstate aims to further strengthen its market position through the acquisition of TSR and leverage TSR's expertise in ditch rental to grow its revenues.
Sumitomo Corporation is strategically positioning itself for growth with a focus on geographic expansion, product diversification, expanding its customer base, and expanding its field solutions business. This robust growth strategy underscores our commitment to improving safety and productivity in the construction industry while actively supporting global infrastructure development.
(*1) Note: Trench safety devices are used to secure earth and sand in trenches in order to ensure the safety of workers engaged in construction work such as water and sewerage, roads, electricity/gas, bridges, and plants. Masu.
■About Sunstate Equipment Company LLC
| Company Name | Sunstate Equipment Company LLC |
| Headquarters | Phoenix, Arizona, USA |
| location | 91 |
■About trench shore rental
| Company Name | Trench shoring rental |
| Headquarters | Phoenix, Arizona, USA |
| location | 6 |
Sumitomo Corporation's important issues
The Sumitomo Corporation Group positions the “Six Material Issues for Sustainable Growth Together with Society” as important elements in formulating business strategies and making decisions for each business. We will continue to resolve these issues through our business activities and aim for sustainable growth. In particular, this project will contribute to the following key issues:
Aiming for harmony with the global environmentWe are working to build a system for efficient resource use and a stable supply of renewable energy, with the aim of realizing a recycling-oriented society and mitigating climate change. By doing so, we will realize growth that is in harmony with the global environment.
Contributing to the development of local communities and industryWe steadily procure and provide goods and services that meet the needs of people in various countries and regions, and contribute to the development of industrial platforms. Through these efforts, we will create a virtuous cycle of growth and development together with the local community.
Establishing the foundation for a comfortable and prosperous lifeIn order to support the mental and physical health of people around the world, we strive to make life more convenient and comfortable by responding to high-quality lifestyle needs and providing products and services that are useful in daily life. I will try my best.
Providing diverse “accessibility”We provide diverse accessibility and expand the possibilities of new value creation. To this end, we will strive to improve mobility for the safe and efficient movement of people and goods, and expand networks that connect information and finance.
Human resource development and promotion of diversityIn order for diverse human resources to maximize their abilities in various fields and create new value and innovation, we promote the development and empowerment of human resources, our most important management resource.
Strengthening governanceWe will strengthen our ability to plan and execute strategies to achieve sustainable growth, and to appropriately supervise those strategies, while ensuring transparency. Through this, we aim to improve management efficiency and maintain sound management.
