Mitsubishi Hitachi: British Primetals Tech, Inc .: Acquired PT shares (49%) owned by Siemens
2019-10-01
Mitsubishi Heavy Industries, Ltd./Siemens AG
◆ Mitsubishi Hitachi Steel, Ltd. takes Primemetals Technologies alone
◆ Expected completion of transaction in early 2020
◆ Details regarding financial information are not disclosed
Mitsubishi Hitachi Steel Machinery:
On September 30, Mitsubishi Hitachi, Ltd. agreed to acquire a 49% stake in Primetals Technologies (PT) owned by Siemens.
As a result, the transaction will be completed at the beginning of 2020 with the approval of the relevant competition law authorities.
Mitsubishi Hitachi Steel will be transferred to PT’s sole shareholder.
Siemens will assist you in the process of ensuring the transaction is completed.
Details of financial information related to this transaction are not disclosed.
Mitsubishi Heavy Industries