The department intends to acquire a majority stake in mitsubishi injection molding machine
The department intends to acquire a majority stake in mitsubishi injection molding machine
Mitsubishi heavy industries announced on July 29 that yu's machinery group is taking over the injection molding machine business of mitsubishi heavy industries in Japan in an effort to cope with a "increasingly tight" market environment. The ministry is to acquire an 85 per cent stake in mitsubishi heavy industries, a subsidiary of mitsubishi heavy industries, to "lock down" the company's operations in the global injection molding machine business. Yu will acquire mitsubishi heavy industries' sales base in North America, China and Thailand, the so-called "core overseas market" of mitsubishi heavy industries, which will still be owned by mitsubishi heavy industries. The terms of the purchase have not been announced. The company, which is based in Nagoya, Japan, announced the acquisition through its website and said the acquisition would "deal with the increasingly rigid market environment of injection molding machinery in Japan and abroad". Web site announcement also said, "after the merger of the two companies technology, ube machinery will through enhancing product line and sales network, strengthen the sales and service ability, reduce the production cost, improve the ability of development." The announcement also said the department has been seeking to expand global markets. The yu department will set up a wholly owned company to take charge of the injection molding machinery business of the two companies. The deal is to be completed by New Year's day.
