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Home Steel News German Siemens to sell VAI unit to Janpanese Mitsubishi Heavy
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German Siemens to sell VAI unit to Janpanese Mitsubishi Heavy

29 Apr 2014 17:37 reported by Ren Jhuang

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It's reported that Germany's Siemens will sell a majority stake of its VAI Metals Technologies based in Linz, Austria to Japan's Mitsubishi Heavy Industries. Siemens will retain a 30% stake in the company in order to secure its position as a supplier.

The German group will make the announcement of the sale on May 7, along with a strategy update and publication of Q2 results.

Siemens is also selling all equipment and facilities of the division for the steel industry.

Currently there are Austrian investors showing interest in the sale. Mr. Michael Tojner head of industrial group Montana Tech Components also expressed interest earlier this month in the purchase.

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  • Created with Highcharts 4.0.41. Jun1. Jul1. Aug14,50015,00015,50016,000
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