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Article: Gildemeister and Mori Seiki announce broad collaboration.(DEAL INCLUDES RECIPROCAL 5% OWNERSHIP)
- Article from:
- Metalworking Insiders' Report
- Article date:
- March 26, 2009
CopyrightCOPYRIGHT 2009 Gardner Publications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Two of the world's five largest publicly traded machine-tool producers are partially joining forces in a alliance that will include joint R&D, production, and distribution. To seal the deal, Gildemeister A.G. and Mori Seiki Co. Ltd. each will own 5% of the other's capital stock.
Gildemeister (Bielefeld, Germany), with machine-tool revenues of around $2.5-billion last year, is listed on the Frankfurt exchange; Mori Seiki (Nagoya, Japan) had machine-tool revenues of about $1.77-billion is its most recent complete fiscal year (ending Match 2008), lists its shares on the Tokyo exchange and, through a special depository program, makes its stock available on American ...