Mitsubishi Heavy Industries, Siemens Launch Joint Venture
The new metals company will serve customers across Asia, Europe, Russia, Africa and the Americas.
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Mitsubishi Heavy Industries (MHI, Tokyo, Japan) and Siemens AG (Munich, Germany) have established Primetals Technologies Ltd., a joint-venture company for the metals industry headquartered in London, United Kingdom. The venture is intended as a globally operating, complete provider for plants, products and services related to the iron, steel and aluminum industry. Mitsubishi-Hitachi Metals Machinery Inc., an MHI consolidated group company with equity participation by Hitachi Ltd. and IHI Corp., holds a 51 percent stake in the joint venture, while Siemens holds 49 percent. The unit will start operations with 9,000 employees coming from both partners.
Primetals Technologies Ltd., visit primetals.com.
