IHI (TYO:7013) said it will transfer the materials handling system business of its subsidiary, IHI Transport Machinery, to a newly formed company, which will then be sold to Tadano, according to a Wednesday filing on the Tokyo Stock Exchange.

This move is part of IHI's strategy to focus on high-growth sectors and adapt to market changes, including decarbonization.

The transaction will be completed by July 2025, with IHI retaining no ownership in the new entity post-transfer. Financial details, including the transfer price, remain undisclosed.

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