ITOCHU Announces a Merger between ITOCHU MACHINE-TECHNOS CORPORATION and ITOCHU FOODEC CORPORATION
December 27, 2010
ITOCHU Corporation (headquartered in Minato-ku, Tokyo; Masahiro Okafuji, President & CEO; hereinafter “ITOCHU”) announced today that ITOCHU MACHINE-TECHNOS CORPORATION (headquartered in Chiyoda-ku, Tokyo; President and CEO: Yoshiaki Hoshino; hereinafter “ITOCHU MACHINE-TECHNOS”) will merge with ITOCHU FOODEC CORPORATION (headquartered in Osaka-shi, Osaka; President: Yoshiyuki Hayashi; hereinafter “ITOCHU FOODEC”) as of April 1, 2011. The resulting company will retain the name ITOCHU MACHINE-TECHNOS, and the organization and business activities that have been carried out by ITOCHU FOODEC until now will continue as the “Foodec Business Division”.
ITOCHU FOODEC has developed its business as an engineering company mainly directed at the food product and pharmaceutical industries, both in Japan and in the Asian region, focusing on China in particular. ITOCHU MACHINE-TECHNOS has been engaged in selling machinery (imported mainly from Europe and North America) for the food industry in Japan and in third countries, as part of the wide range of industrial machinery that it handles. This merger will bring together the management resources of both companies and will substantially improve their technical support capabilities and engineering functions, thereby allowing the new company to respond to the needs of client companies by providing everything from the sale of plants and facilities through to engineering and maintenance services for all types of industrial machinery, not just machinery for the food product and pharmaceutical industries.
The new ITOCHU MACHINE-TECHNOS will take advantage of the experience that it has cultivated over the years as it aims to become a “total solution provider in the manufacturing industry”, providing customer-oriented services and contributing to further growth as a core company of the ITOCHU Group.
Profile of the new company
|Company name||ITOCHU MACHINE-TECHNOS|
|Merger date||April 1, 2011|
|Capital||300 million yen|
|Revenue||37 billion yen (projection for 2011)|
|Business overview||Importing, exporting and domestically selling energy-saving and other environmental-friendly devices, as well as industrial machinery in various sectors such as metals, food products, paper pulp, building materials, plastics, new materials, and electronics; as well as engineering, fitting and maintenance work for plants and other facilities.|