JIM Technology formalises Terratec relationship with shares purchase15 October 2018
Australia/Japan – The Japanese business partner of Australian TBM manufacturer Terratec has purchased 50% of the company’s shares.
JIMT is an entity that was created by IHI Corporation, Mitsubishi Heavy Industries and JFE Engineering to merge their respective TBM divisions.
Terratec and JIMT have been working together for eight years. A Terratec spokesperson told Tunnels and Tunnelling that the move will give it access to more engineering capability and production facilities.
As in the past years, the design of the machines will continue being carried out using JIMT’s technology for EPB and slurry, with the team in Australia taking care of the hard rock TBMs, raise boring machines and conveyor systems.
The other half of Terratec’s shares remain with the existing partners, who will keep running the business. Terratec will also retain its structure and key people.
“We want Terratec to keep operating and expanding the business as they do, but now with JIMT’s full and direct support from the Engineering and Production side,” said Takanobu Miki, president of JIMT.
Bruce Matheson, Terratec’s sales and marketing director added, “There will be a combined board, but the management philosophy that has grown Terratec to its current size will not change . It is often said that there will be no noticeable change for customers in these cases, but in this case it really is true.
“We have been cooperating eight years with JIMT so closely and now with this formal union there are no doubts that we are together and capable to build, deliver and support any type and size of TBM for any project in any market globally.”