Ube Industries merges with Mitsubishi Materials Cement business, etc.February 12 21:19
Ube Industries, a chemical maker, and Mitsubishi Materials, a major metal maker, have announced a basic agreement to integrate the cement business and other businesses of the two companies.
According to the announcements of the two companies, Ube Industries and Mitsubishi Materials have agreed on a basic agreement to integrate the energy and environment-related businesses in addition to the cement business of the two companies. The two companies established in prospect April 2022 a new company to create a stake by 50%, is that to succeed to the business, such as a cement business and energy to the new company.
The two companies have already integrated their cement sales and logistics functions. However, given the declining demand for cement in Japan, the two companies are aiming to reduce costs and enhance their overseas competitiveness by fully integrating them.
The two companies, the future, piled more about the consultation, such as management structure and personnel of the new company, will be entered into a definitive agreement to prospect the year end of September.