IHI (TYO:7013) will transfer all shares of its subsidiary IHI Construction Materials to Vertex Corp. (TYO:5290) on Oct. 1, according to a Thursday filing on the Tokyo Stock Exchange.
The transfer price was not disclosed but was determined through a fair process, the filing said.
IHI Construction Materials, which makes concrete products for infrastructure projects like tunnels and subways, has faced growing competition and changing market demands.
IHI said the sale will allow the subsidiary to benefit from Vertex's expertise in precast concrete products and strengthen competitiveness through synergies.
Vertex, established in 2018, manufactures and installs concrete products for infrastructure and disaster prevention.
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