Armacell Japan Co., Ltd signed a business transfer agreement to acquire Engineering Business from SpiderPlus & Co. (TSE:4192) for ¥200 million on November 12, 2021. In 2020 Engineering Business generated revenue of ¥489 million and operating Income of ¥73.1 million. Deal is expected to close on January 4, 2022.

Armacell Japan Co., Ltd completed the acquisition of Engineering Business from SpiderPlus & Co. (TSE:4192) on January 4, 2022.