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Hitachi Zosen Corp Announces Changes in Business Integration Plan

Tuesday, 18 Sep 2012 03:00am EDT 

Hitachi Zosen Corp announced that there are some changes in the business integration plan, which was announced on August 27, 2012. IHI Corporation reached a final agreement on the business integration between IHI Marine United Inc., which is a wholly owned subsidiary of IHI Corporation, and Universal Shipbuilding Corporation, which is 84.93% owned by JFE Holdings, Inc. and 15.07% owned by Hitachi Zosen Corporation, effective October 1, 2012. In the business integration, Universal Shipbuilding Corporation will be the surviving company and will change its name into Japan Marine United Corporation. IHI Corporation, JFE Holdings, Inc. and Hitachi Zosen Corporation will hold a 45.93%, 45.93% and 8.15% stake in the new company, respectively. The Company changed the effective date from October 1, 2012 to November 1, 2012. 

Company Quote

3.0 +0.52%
2 Sep 2014