.gif?width=220&height=200&mediaprotectionhash=b13da841472e6e7ed500ee35df2a350aaf53d75246118b33ea2095cc7e9a3fc4&ext=.gif)
Hitachi Metals, Gloria Material to Discuss Tie-up
12/21/2011 - Hitachi Metals, Ltd. and Gloria Material Technology Corp. (GMTC) will commence discussions focusing on cooperation in production, sales, technology, and investment regarding high-grade specialty steel, and the acquisition of a portion of stocks in GMTC by Hitachi Metals.
Hitachi Metals, Ltd. and Taiwanese steel manufacturer Gloria Material Technology Corp. (GMTC) will commence discussions focusing on cooperation in production, sales, technology, and investment regarding high-grade specialty steel, and the acquisition of a portion of stocks in GMTC by Hitachi Metals.
Hitachi Metals already produces high-grade specialty steel at its Yasugi Works of Special Steel Co. To effectively respond to a predicted rise in global demand, the company is looking for ways to expand its capacity and business base in the sector. GMTC handles stainless steel and super heat-resistant alloys that are certified by major aircraft and energy plant makers, as well as mold materials and other steel products. The company has developed businesses in Europe, North America, and Asia.
The schedule currently calls for Hitachi Metals and GMTC to settle the details of the proposed tie-up agreement and then reach a final decision on the definitive agreement within the first quarter of the fiscal year ending March 31, 2013.
