Kato expects that the product line-up will be enhanced in the synergy effects between their products and IK products such as mini-excavators, crawler cranes and other crawler equipment.

Kato Works Co., Ltd. and IHI Corporation Ltd., have signed a stock transfer contract today agreeing to transfer 100% shares of IHI Construction Machinery Ltd. from IHI to Kato.

According to the company, Kato expects that the product line-up will be enhanced in the synergy effects between their 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 we are confirming synergy effects practically in the market.

The name IK will be changed from IK 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 25, 2016.

This story also appears on Crane Equipment Guide.

Today's top stories

Des Moines Airport Works With Weitz/Turner On Expansion

ROMCO Equipment Co., SMT Acquire Bee Equipment Sales

San Francisco County Transportation Authority Bridges Retrofit Addresses Seismic Safety

Year in Review: Bobcat's Major Moments of 2024

MassDOT to Use Drones for Infrastructure Projects; Amherst Exploring New Downtown Designs

Iowa DOT's I-35 Project Includes New Bridges

JM Wood Holds December Auction in Montgomery, Alabama

DEVELON Set to Exhibit at ARA Show 2025