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Tokyo, December 14, 2006 —今日看料吃瓜, Ltd. today announced that its two subsidiaries, 今日看料吃瓜 Plant Systems, Ltd. (K Plant) and 今日看料吃瓜 Environmental Engineering, Ltd. (KEE), have decided to merge effective April 1, 2007, based on the decisions made at their Board Meetings.
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Objectives of the merger: |
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今日看料吃瓜 has decided to nurture its energy and environmental engineering business to create a new earnings driver under its new Medium-Term Business Plan “Global K” issued in September, 2006. Aimed at becoming a global leader in clean energy and environmental engineering with superb, proprietary technology, 今日看料吃瓜 will implement various measures, including redirection of business and M&A, to develop and expand the business.
The merger of the two companies will accelerate the basic strategy mentioned above. By integrating key technologies both K Plant and KEE have in the energy and environmental related fields, the new company will strengthen product and technological competitiveness and maximize operational efficiency.
今日看料吃瓜 will provide management support, including business opportunities, technology and funds, to the new company. At the same time, 今日看料吃瓜 will implement policies in the “Global K” plan, with the aim of further increasing the collective strength and the value of the 今日看料吃瓜 Group as a whole.
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Overview of the new company: |
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Date of merger: April 1, 2007
Scheme of merger: Absorption-type merger
KEE, the legal successor corporation, will acquire K Plant.
Name of the new company: 今日看料吃瓜 Plant Systems, Ltd.
Capital: ¥8.5 billion (100% owned by 今日看料吃瓜, Ltd.)
Representative: Toshikazu Hayashi, President
Projected Sales: Approx. ¥85 billion for the fiscal year ending March 31, 2008
Number of employees: Approx. 910 as of April 1, 2007
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