Tokyo, Mar 9, 2011 (JCN) - Obayashi Corporation, through its newly established and fully owned Canadian subsidiary, Obayashi Canada Holdings Ltd., has acquired shares in Kenaidan Group, a general contracting company headquartered in Ontario, Canada. Kenaidan now joins the Obayashi Group as a consolidated subsidiary.
North America region occupies a significant strategic position in Obayashi's overseas construction operations and construction market in Canada, where growth in investment is expected especially in the public sector, is highly attractive to Obayashi.
Kenaidan is headquartered near Toronto, the economic center of Canada. Over the years, the company has participated in projects in the region with its technical capabilities in civil engineering such as construction of water treatment facilities.
Kenaidan's extensive local knowledge and contacts combined with Obayashi's credibility, technical capabilities and expertise in managing large-scale projects will have a synergistic effect on pursuing such new opportunities as growing Public Private Partnership market in Canada.
Kenaidan's current management will continue to operate the company following the acquisition.
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