MHI group company Mitsubishi-Hitachi Metals Machinery (MHMM) will acquire Siemens 49% stake in London based Primetals Technologies.
Details are provided below:
- After this deal MHMM will assume sole control of Primetals Technologies.
- Primetals Technologies is a worldwide leading engineering, plant-building, and lifecycle services partner for the metals industry.
- Takashi Ishizuka, President and CEO, Industry & Infrastructure of MHI, MHMMs parent company, expressed his appreciation to Siemens: I would like to express my deep gratitude to Siemens for their enormous contribution to Primetals Technologies over the past four years and nine months. Primetals Technologies has been able to establish a highly successful business through Siemens strong leadership and deep experience in the industrial machinery business. MHI expects that Primetals Technologies will build on these foundations and strengthen its business in the future.