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        IMA

M&As: Ube/Mitsubishi merged; Teijin completes buy of CSP in the US

Ube-and-MHI

Two Japanese machinery companies Ube Machinery Corporation, a group company of Ube Industries, and Mitsubishi Heavy Industries Plastic Technology Co, a group company of Mitsubishi Heavy Industries (MHI), completed a transfer of shares relating to their respective businesses in injection moulding machines, following the signing of an agreement last year toward integration of the two companies’ related business operations.

As a result of the share transfer, Mitsubishi has relaunched operations under a new structure and a new corporate name: U-MHI Platech Co (U-MHIPT). Simultaneously, Ube Machinery has begun operations at a newly established entity, named U&M Plastic Solutions Co., charged with marketing products produced by both Ube Machinery and U-MHIPT.

The injection moulding machine business environment is becoming increasingly severe in both the Japanese and global markets. Through the integration of their businesses in this field, Ube Industries and MHI say they have opted to combine their respective strengths in technologies, product line-up, and sales and servicing networks in order to pursue enhanced strength in sales, servicing, development, and production technology. By adding value through reduced manufacturing costs and timely anticipation of customer needs, the two companies target business expansion in the global market.

The newly created U&M Plastic Solutions will offer technical guidance and consulting services related to the moulding of plastic products, and will be supported by the marketing strength of both brands.

In other news, Teijin Limited has completed the US$825 million acquisition of all the shares of Continental Structural Plastics car- Holdings Corporation (CSP), a global leader in automotive lightweight composite technologies. Headquartered in Michigan, US, CSP holds more than 50 patents covering materials development and manufacturing processes in composite materials formulation, design and manufacturing technologies. The company has operations on three continents and has more than 3,300 employees.

As a wholly-owned subsidiary of Teijin, CSP will remain an autonomous operation. Frank Macher remains as Chairman/CEO, and Eric Haiss, former Vice President of Teijin Advanced Composites America will be appointed as Executive Vice President.

Through this acquisition, the Teijin says it will realise significant materials synergies, with CSP, enabling the combined companies to utilise composites technologies including glass fibre-reinforced thermosets and thermoplastics, carbon fibre, aramid fibres and multi-material hybrid composite solutions. These materials will be used to manufacture a range of lightweight components including Class A body panels, pickup boxes, battery carriers and a number of structural applications that will help the global automotive industry meet design and regulatory challenges.

The automotive composite products business of the Teijin Group is targeting annual sales of US$2 billion by 2030.

(IMA)


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