Kato Works Co. Ltd. (KATO) and IHI Corporation Ltd.(IHI) have signed a stock transfer contract agreeing to transfer 100% shares of IHI Construction Machinery Ltd.(IK) from IHI to KATO. It is expected that the product lineup will be enhanced in the synergy effects between the products and IK products such as mini‐excavators, crawler cranes, and other crawler equipment. All current facilities and network including overseas will be kept without major changes for the time being. The two companies will be assimilated over time, and both companies shall enter to new stages while synergy effects are being confirmed practically in the market. The name IK will be changed to a new one to be recognized as one of the KATO Group after the transfer has been completed. The transfer is subject to regulatory approval, with a scheduled transfer date of November 25th, 2016.
📅Published on:
28 October 2016
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