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JAPAN'S TAKAMATSU TO TAKE OVER BUSINESS OF 1,400 YEAR-OLD FIRM.
AsiaPulse News
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December 15, 2005
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COPYRIGHT 2005 Asia Pulse Pty Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group.
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TOKYO, Dec 15 Asia Pulse - Midsize general contractor Takamatsu Corp. (TSE:1762) said Wednesday that it will take over business in January 2006 of Osaka temple and shrine builder Kongo Gumi Co.
Kongo Gumi, which is Japan's oldest company, will likely be liquidated.
Takamatsu will take over operations of the roughly 1,400-year-old firm through a new company established in November. Employees, orders and a portion of liabilities will be transferred to the new firm, also named Kongo Gumi, on Jan. 16.
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