Steel News

Mitsubishi-Hitachi Metals Machinery and IHI Metaltech Complete Integration of Rolling Mill Business

10/10/2013 - On 1 October 2013, Mitsubishi-Hitachi Metals Machinery, Inc. (MH) and IHI Metaltech Co., Ltd. (IHIMT), a wholly owned subsidiary of IHI, completed procedures that had been in progress based on a basic agreement on integration of the rolling mill business announced on 13 June 2013.
MH was established by Mitsubishi Heavy Industries, Ltd. (MHI) and Hitachi, Ltd. (HTC) in October 2000 as a domestic manufacturer of metals machinery and equipment, setting a precedent in business integration in this field. Now with the further participation of IHIMT, the integration of business operations will evolve further. The capital ratio of each company after the integration will be as follows: MHI: 55.7%, HTC: 34.3%, and IHI: 10%.
Taking advantage of the strengths of the rolling mill business, which was transferred from IHIMT, the reborn MH aims at a mutually complementary strengthening of the technologies related to aluminum rolling mills and thick steel plate rolling mills, and expansion of its line-up of copper foil rolling mills, as well as the pursuit of further synergy merits, such as enhancing responsiveness to hot-rolling mills and expansion of the network of modification work and after-sales services, and acceleration of global business expansion. In this way, MH will establish a solid business structure in a quest to become a leading presence within the global market.
Under the corporate philosophy of responding precisely and swiftly to customer needs that change with the times and providing production equipment that consistently delivers world-class performance and reliability, we intend to dedicate ourselves to the further development of our customers in the steel and non-ferrous metals industry in Japan and overseas, going forward.