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Major contractors Hazama, Ando to merge next April update


Major contractors Hazama, Ando to merge next AprilHazama Corp. and Ando Corp., both contractors listed on the First Section of the Tokyo Stock Exchange, announced Thursday they will merge next April 1 to streamline operations amid a downturn in construction spending since the global financial crisis began in 2008.

 

Combined group sales of the two contractors totaled 350 billion yen in the past business year to March 2012.

Hazama is strong in tunnel and dam construction and has about 2,300 group employees, with group sales of 182 billion yen the past year. Ando is strong in building and housing construction and has about 1,600 group employees, with group sales of 169.3 billion yen last year.

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