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An announcement from IHI ( (JP:7013) ) is now available.
IHI Corporation has announced the transfer of its shares in IHI Construction Materials Co., Ltd. to Vertex Corporation. This strategic move is part of IHI’s mid-term management plan to optimize its business portfolio by reallocating resources from conventional businesses to growth-oriented sectors. The transfer aims to enhance competitiveness and ensure sustainable growth for IHI Construction Materials through synergies with Vertex, a leading company in the precast concrete industry. The transaction is expected to strengthen IHI’s industry positioning and adapt to the rapidly changing market environment.
More about IHI
IHI Corporation operates in the engineering and construction industry, focusing on the development, manufacturing, and sales of civil engineering and construction materials. Its primary products include concrete materials for infrastructure projects such as tunnels, bridges, and utility systems. The company aims to transform its business structure to achieve sustainable growth by reallocating resources from conventional businesses to growth and development-focused sectors.
YTD Price Performance: 5.84%
Technical Sentiment Signal: Sell
Current Market Cap: $10.98B
For detailed information about 7013 stock, go to TipRanks’ Stock Analysis page.