Japanese crane company Tadano buys IHI's transportation business
TOKYO, 4 hours, 52 minutes ago
Japanese truck manufacturer Tadano has announced the successful completion of its acquisition of the transportation system business of IHI Transport Machinery Company, a consolidated subsidiary of IHI Corporation.
IHI Transport Machinery’s transportation systems business, with more than 50 years of engineering expertise, includes Jib Climbing Cranes, Port and Large Offshore Cranes, Wind Power Cranes, and Bulk Handling Systems.
These additions complement Tadano’s existing offerings, particularly its Lattice Boom Crawler Cranes produced in Germany, and enhance its ability to support customers in industries such as construction, ports and offshore, wind energy, and general industrial applications.
According to Tadano, this acquisition marks a strategic milestone in its ongoing effort to expand the company's product portfolio and boost value for customers across the globe.
As part of the transaction, a new company named IUK Crane was established in February to facilitate the transfer of the subject business.
On July 1, Tadano acquired 100% of IUK Crane’s shares, making it a wholly owned subsidiary.
In alignment with Tadano’s strategic direction, the company will be renamed Tadano Infrastructure Solutions and Toshiaki Ujiie, the President, CEO and Representative Director of Tadano, will serve concurrently as the President of the new subsidiary.
This move advances Tadano’s Mid-Term Management Plan and further positions the company as a comprehensive provider of lifting solutions, said the statement.
"The completion of this acquisition is a key step in expanding our capabilities in the global lifting equipment market," remarked Ujiie.
"By integrating this business into our group, we are better equipped to serve the evolving needs of our customers and deliver long-term value," he noted.
The acquisition cost is 15.3 billion yen ($106 million) however, the final acquisition cost has not been fixed at this time because the price adjustment based on the share transfer agreement has not been completed), said Tadano in its statement.
This acquisition underscores Tadano’s commitment to innovation, diversification, and global leadership in lifting solutions, it added.-TradeArabia News Service
