Steel Market Conditions Prompt Mitsubishi Heavy Industries to Reduce Costs at Primetals Venture
06/13/2016 - In the face of a weak steel market, Mitsubishi Heavy Industries Ltd. is looking to cut costs at its Primetals Technologies venture, reports the Bloomberg news service.
According to Bloomberg, Mitsubishi, which owns 51 percent of Primetals, wants to speed up integration and review overlapping production and engineering sites, Bloomberg said.
Primetals was formed in 2015 through a merger of units from Mitsubishi and Germany’s Siemens AG. Siemens owns 49 percent of the business.
Bloomberg has the full story here.
Primetals was formed in 2015 through a merger of units from Mitsubishi and Germany’s Siemens AG. Siemens owns 49 percent of the business.
Bloomberg has the full story here.
