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Ihi Corp Announces Changes in Business Integration Plan

Monday, 22 Oct 2012 02:00am EDT 

Ihi Corp announced that there are some changes in the business integration plan, which was announced on August 27, 2012. Ihi Corp and JFE Holdings Inc 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. Ihi Corp changed the effective date from November 1, 2012 to December 1, 2012. 

Company Quote

-3.0 -0.63%
24 Jul 2014