PLANSEE and Mitsubishi Materials: Joint Venture Agreement signed [09/08/2005]
On August 9th, 2005, PLANSEE Holding AG (“PLANSEE”) and Mitsubishi Materials Corporation (“MMC”) have signed the joint venture agreement to merge their relevant business activities in the field of powder metallurgical (PM) products under a holding company based in Luxembourg. PLANSEE and MMC will hold each a 50 percent equity share in this joint venture.
The new PM-company with 10 production facilities in Japan, Germany, Spain, USA, Malaysia and China will focus on global engineering and production of structural parts made of materials as iron, steel, bronze, aluminium and titanium for engine, transmission and chassis applications.
PLANSEE and Mitsubishi Materials aim to position the new joint venture as one of the leading global automotive suppliers in the PM business and expand in fast growing markets such as China, Eastern Europe and South America.
The transaction will be closed on December 1, 2005.
Description of the new joint-venture company:
Corporate Name: Plansee Mitsubishi Materials Global Sinter Holding S.A. (PMG)
Corporate Headquarter: Mamer, Luxembourg
Capital: 5 Mil Euro
| Shareholders: |
50% PLANSEE Holding AG |
| |
50% Mitsubishi Materials Corporation |
| Board of Directors: |
Chairman |
Dr. Michael Schwarzkopf |
(PLANSEE) |
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Vice Chairman |
Mr. Tsuneo Katsuki |
(MMC) |
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President |
Mr. Masafumi Koga |
(MMC) |
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Vice President |
Dr. Michael Krehl |
(PLANSEE) |
|
Board Members |
Mr. Fumio Shimada |
(MMC) |
| |
|
Mr. Karlheinz Wex |
(PLANSEE) |
| |
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Mr. Yoshiyasu Lino |
(MMC) |
| |
|
Mr. Holger Steinweg |
(PLANSEE) |
Number of employees: 2,000 (consolidated basis)
Turnover: 350 Mil Euro/48 Bil Yen (consolidated basis)
| Manufacturing Plants: |
Germany (Füssen)
Spain (Mondragón, Mieres)
Japan (Niigata, Fujioka)
U.S.A. (Columbus/IN, Dayton/OH, State College/PA)
Malaysia (Port Klang)
China (Shanghai) |
Product groups: shock absorber parts, transmission parts, engine parts, valve seats, valve guides, sintered oil-less bearing, sintered soft-magnetic materials, titanium aluminide and titanium valves.
 PMG-Group structure
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PMG-Group structure