Mitsubishi Heavy Industries, Ltd. (MHI) and Siemens AG today announced the closing of their joint venture in the field of metallurgical industry. The new company is named Primetals Technologies, Limited and headquartered in London, UK. With this joint venture both partners are forming a globally operating complete provider for plants, products and services for the iron, steel and aluminum industry.
Mitsubishi-Hitachi Metals Machinery, Inc. - an MHI consolidated group company with equity participation by Hitachi, Ltd. and IHI Corporation - holds a 51-percent and Siemens a 49-percent stake in the joint venture. With closing of the transaction, the joint venture
Mitsubishi-Hitachi Metals Machinery, Inc. - an MHI consolidated group company with equity participation by Hitachi, Ltd. and IHI Corporation - holds a 51-percent and Siemens a 49-percent stake in the joint venture. With closing of the transaction, the joint venture
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