IHI Corporation (IHI) announced that it has agreed to transfer all the shares in its wholly-owned IHI Construction Machinery Ltd to Kato Works Co. Ltd. The decision is in keeping with IHI Group Management Policies 2016, which adopted a new portfolio management approach to reinforce IHI’s earnings base. This share transfer was an outcome of construction machinery business deliberations as part of efforts to accelerate business concentration and selection.
IHI Construction Machinery was established in 1952 as Ishikawajima Koehring Co., a joint venture with Koehring of the US. Over the years, the company has manufactured and sold ini-excavators, cranes, crawler carriers, and other construction machinery, offering top-notch products and services in Japan and abroad.
Established in 1895, Kato Works is a leading construction machinery company. It is pushing forward with Medium-Term Management Plan 2016-2018, targeting net sales exceeding ¥100 billion. It is deploying measures to reach the global market, develop highly competitive products and expand its lineup.