Smc Concrete K.K. cancelled the acquisition of SMC Precon INK from Sumitomo Mitsui Construction Co.,Ltd. and other shareholders
January 24, 2018
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Smc Concrete K.K. signed a merger agreement to acquire SMC Precon INK from Sumitomo Mitsui Construction Co.,Ltd. (TSE:1821) and other shareholders on January 25, 2017. SMC Concrete will be the surviving company, and SMC Precon INK will be the dissolving company by absorption-merger method. After the merger, the name will be changed to SMC Preconcrete Co., Ltd. SMC Precon INK had ¥3.9 billion as on March 31, 2016. The transaction is expected to be approved in the shareholders’ meeting of Sumitomo Mitsui Construction Co.,Ltd. on February 15, 2017. The transaction has been resolved by the Board of Directors of Sumitomo Mitsui Construction Co.,Ltd. on January 25, 2017. The transaction is expected to complete on April 1, 2017.
Smc Concrete K.K. cancelled the acquisition of SMC Precon INK from Sumitomo Mitsui Construction Co.,Ltd. (TSE:1821) and other shareholders on January 25, 2018.
Sumitomo Mitsui Construction Co Ltd is a Japan-based company mainly engaged in the civil engineering and construction work. The Company operates in two business segments. Along with its subsidiaries, the Civil Engineering Work segment is engaged in the design and construction of civil engineering works in domestic markets and overseas markets, include construct prestressed concrete (PC) bridges and other construction projects ordered mainly by government agencies. The Building Work segment is engaged in the design and construction of building works in domestic markets and overseas markets, include high-rise residential buildings and other construction projects ordered mainly by private companies. The Company also operates solar power generation business and related businesses, as well as insurance agency business.
SUMITOMO MITSUI CONSTRUCTION CO.,LTD. 
