Sponsored
Article Tools

Austria: Mitsubishi Takes Over Majority Stake in Siemens‘ VAI

Published: May 7, 2014; 15:16 · (Vindobona)

The industrial systems subsidiary of Siemens, VAI with the business location in Linz, is sold to Japanese competitor Mitsubishi Heavy Industries (MHI).

How much of Siemens VAI will be relocated? / Picture: © Siemens Austria VAI

MHI will hold 51 percent while Siemens will keep 49 percent in stakes. The joint venture is supposed to have 9,000 employees. A selling price for the transaction was not published. The joint venture will commence operations from January 2015 on with headquarters to be relocated to the United Kingdom.

Joint Venture Mitsubishi-Hitachi Metals Machinery, Inc. (MH) will be included in…

This article includes a total of 204 words.

or Log In