Machine tool builders Mori Seiki (Nagoya, Japan) and Gildemeister AG (Bielefeld, Germany) have signed a cooperation agreement to promote global business activities. The agreement covers production, purchasing, machine development, and sales and services in selected markets.
In particular, the companies plan to control costs by leveraging their joint procurement and purchasing power on a global basis. With consolidated sales activities in selected regions, the machine tool builders can jointly invest in emerging markets. Establishing a finance company for customers is also under consideration.
“The world of machine tools has become global,” says Dr. Rudiger Kapitza, Gildemeister CEO. “Meeting and overcoming the challenges of the international economic crisis demands strong alliances. We will bundle our resources in order to achieve joint efficiency advantages.”
To strengthen the partnership, both parties agreed to a cross-shareholding investment of 5 percent in each company. As a result, Mori Seiki will become the largest single Gildemeister shareholder. Additionally, Dr. Kapitza and Mori Seiki President Dr. Masahiko Mori will each hold a seat on the board of the respective partner company.