Tokyu Construction to buy Singapore design firm in 1st overseas M&A
SINGAPORE, NNA - Tokyu Construction Co. will buy a Singaporean architectural structure design company in its first overseas takeover deal to efficiently promote construction projects by strengthening its computer-aided design operation.
The Tokyo-based Japanese contractor has agreed with Indochine Engineering Ltd. to acquire its full stake for an undisclosed sum, a company spokesman in Tokyo told NNA on Wednesday.
The Singapore-based construction management company has provided equipment and structure design service called BIM, or building information modeling management, to help build architectural structures in an efficient manner, Tokyu said in a statement on Wednesday.
In 2017, the Japanese construction firm formed an internal team in a bid to utilize BIM, which uses three-dimensional computer models for constructing projects, but faced a scarcity of engineers, according to the company.
Indochine Engineering, which has subsidiaries in Australia and Vietnam, employs about 80 engineers to provide the service in the Asia-Pacific region, the statement said.
In overseas markets, Tokyu Construction mainly takes on construction work funded by the Japanese government's official development assistance in developing countries such as Bangladesh, Indonesia and Thailand. (NNA/Kyodo)