Tadano (TYO:6395) completed the acquisition of IHI Transport Machinery's transportation systems business and established a new consolidated subsidiary, Tadano Infrastructure Solutions, according to a Friday filing on the Tokyo Stock Exchange.
The deal, first disclosed in November, involved an absorption-type company split and the purchase of all shares in a newly formed entity, IUK Crane, which has been renamed.
Tadano paid approximately 15.3 billion yen for the transaction, with the final price pending adjustments.
The acquired business includes jib climbing cranes, port and offshore cranes, wind power cranes, and bulk handling systems.
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