Plansee Group And Mitsubishi Materials Intend To Merge Their PM Business

Plansww Holding AG (“PLANSEE”) and Mitsubishi Materials Corporation (“MMC”) have reached a basic agreement by signing a Letter of Intent to merge their relevant business activities in the field of powder metallurgical (PM) products under a new joint holding company to be established in Luxembourg.

It is planned that PLANSEE and MMC will hold each a 50 percent equity share in this joint venture.

The Sinterstahl group, the PM business subsidiary of Plansee, with plants in Germany, Spain and the United States, and the PM business of MMC with plants in Japan, U.S.A., Malaysia, and China will be transferred to the new joint venture, which will focus in future on the global engineering and production of structural parts made of materials as iron, steel, bronze, aluminium and titanium for engine, transmission and chassis applications.

The PM business of both industrial groups is complementary to each other, thereby strengthening the global customer and manufacturing bases of the joint venture. The exchange of technologies and business know-how will lead to efficiency gains and overall performance improvements and support the expansion of the business in fast growing markets such as China, Eastern Europe and South America.

The closing of this transaction is planned for September 30, 2005, subject to clearance by the relevant anti-trust authorities and the final approval by the boards of directors of both companies.

The aim of the new joint venture is to position itself as one of the leading global automotive suppliers in the PM business. With currently 11 plants in Europe, Japan, U.S.A., Malaysia and China, the basis for expanding the global footprint has been laid.

600450 Plansee Group And Mitsubishi Materials Intend To Merge Their PM Business
Date: 30 May 2005
Source: Plansee

See more news about:

See more from these topics:

Others also read

As the world leading 100% fully tempered vacuum insulated glass, LandVac ensured the successful development of a military project.
Kohn Pedersen Fox (KPF) proudly supported the opening of MGM COTAI on Tuesday, February 13 2018. The resort is the latest addition to the MGM portfolio in Macau.
With various features including light weight, thin thickness, clear transparency, high safety, and extensive use in many aspects of building construction without regional limitation, LandVac has been well received by consumers.
As the launch pad for new products and technologies on window, door and facade in China, the 24th Windoor Expo will take place in Guangzhou from March 11 to March 13, 2018.
Considering the use of energy-saving glass as the determinant of a building’s power conservation, vacuum insulated glass currently offers the most outstanding performance in energy-saving. Among them, LandVac® is one of the best.
Recently, LandGlass is successfully selected into the list of the Innovative Large Enterprises of the City by the department of science and technology in Luoyang.

From industry

No. 160 Yichuan Rd.,
Jiaonan Shi
Qingdao Shi
Shandong Sheng, 266000

Add new comment