Miyaji Engineering Group, Inc. completed the acquisition of 51% stake in Mitsubishi Heavy Industries Bridge & Steel Structures Engineering Co., Ltd. from Mitsubishi Heavy Industries Ltd..
April 01, 2015 at 12:00 am EDT
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Miyaji Engineering Group, Inc. (TSE:3431) signed a basic agreement to acquire 51% stake in Mitsubishi Heavy Industries Bridge & Steel Structures Engineering Co., Ltd. from Mitsubishi Heavy Industries Ltd. (TSE:7011) for approximately ¥330 million on November 7, 2014. Miyaji will acquire 0.64 million shares in the transaction. The company name of Mitsubishi Heavy Industries Bridge is slated to change to MM BRIDGE Co., Ltd., effective April 1, 2015. A comprehensive agreement is expected by March 31, 2015. For the fiscal year ended March 2014, Mitsubishi Heavy Industries Bridge & Steel Structures had sales of ¥19.1 billion. The deal was resolved by the Board of Miyaji Engineering Group, Inc. The transaction is expected to close on April 1, 2015.
Miyaji Engineering Group, Inc. (TSE:3431) completed the acquisition of 51% stake in Mitsubishi Heavy Industries Bridge & Steel Structures Engineering Co., Ltd. from Mitsubishi Heavy Industries Ltd. (TSE:7011) on April 1, 2015.
MIYAJI ENGINEERING GROUP, INC. is a Japan-based company mainly engaged in the bridge business. The Company operates in two business segments. Along with its subsidiaries, MIYAJI ENGINEERING segment is engaged in the design, production and site installation, the maintenance, repair and reinforcement of bridges, structural steel products and others; sales of fiber-reinforced plastics (FRP) structures; prestressed concrete bridges and other civil engineering works; as well as earthquake-proof and seismic isolation works for large and high-rise buildings, steel towers, chimneys, factory buildings and others. The MM BRIDGE segment is engaged in the production, installation, sales and repair of bridges, coastal structures, as well as the contract, design and supervise construction of civil engineering construction works.
Miyaji Engineering Group, Inc. completed the acquisition of 51% stake in Mitsubishi Heavy Industries Bridge & Steel Structures Engineering Co., Ltd. from Mitsubishi Heavy Industries Ltd..
MIYAJI ENGINEERING GROUP,INC. 
