TOKYO, Apr 01 (Pulse News Wire) – Furukawa CO.,LTD. (5715.T) completed its acquisition of shares in Earth Technica, making it a consolidated subsidiary.
On April 01, Furukawa Machinery acquired approximately 48.84% of Earth Technica's outstanding shares, totaling 15,480 shares, with a purchase price of ¥1.489 billion. This move strengthens Furukawa’s industrial machinery division, particularly its crushing machine business, which will now undergo integration discussions with Earth Technica. The acquisition aims to optimize operations, enhance competitiveness, and expand overseas ventures for sustainable growth.
Additionally, Furukawa plans to create synergies and allocate resources towards growing environmental recycling sectors to better meet customer demands. Furukawa Machinery also outlined future intentions, stating that further details on the impact of this transaction on their performance will be disclosed promptly once available. As part of the consolidation, Earth Technica’s board was restructured, with key appointments including Masahiko Nishi as President and Executive Director, and several other executives from both companies taking on roles within Earth Technica.
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