IHI Transport Machinery

Tadano has finalized the acquisition of the transportation system business of IHI Transport Machinery Co., a subsidiary of IHI Corporation, for approximately 15.3 billion yen ($103.6 million). The acquired unit will be renamed Tadano Infrastructure Solutions.

Tadano Ltd. acquired the transportation system business of IHI Transport Machinery Co., Ltd., a subsidiary of IHI Corporation, for approximately 15.3 billion yen, establishing a new subsidiary Tadano Infrastructure Solutions Ltd.

Tadano is to acquire IHI Transport Machinery Co, the crane and material handling subsidiary of IHI Corporation.

Tadano Ltd. agreed to acquire Manitex International, a provider of truck cranes and industrial equipment, in an all-cash transaction valued at $123 million equity value ($223 million total). Manitex shareholders will receive $5.80 per share.

IHI Transport Machinery (IHI運搬機械) will construct a new building at its Numazu factory in Shizuoka, Japan, to consolidate assembly operations for mechanical parking equipment, investing several hundred million yen to improve productivity by 20-30%.