Obayashi's Webcor Unit To Acquire US Construction Firm GCON For Undisclosed Sum
(RTTNews) - Obayashi Corp. (OBA.F, 1802.T), a Japanese construction company, Friday announced its agreement to purchase US-based construction Company GCON Inc. and its two affiliated companies. The financial terms were not disclosed.
The acquisition will be through Obayashi's US construction subsidiary Webcor L.P.
Arizona-based GCON, a full-service construction management firm, provides services across ten states. The services include for technology consisting of data centers and semiconductor manufacturing, healthcare, public works sectors, aviation, commercial, higher education division.
The acquisition comes amid the rapid demand growth in U.S. construction market for critical environments mainly due to increasing demand for AI technologies.
The Japan-based company said it will leverage GCON's local network, customer base, and construction process in US and aims to promote its corporate value by expanding its business into Arizona, a neighboring state of California where Webcor is based.
On the Tokyo Stock Exchange, the shares were trading 1.16 percent higher at 2482 yen.
