TOKYO, March 28, 2013_ Ube Industries, Ltd. has announced that it will merge its two consolidated subsidiaries in the machinery business, Ube Machinery Corporation, Ltd. and Ube Techno Eng Co., Ltd. The merger will take effect in October 1, 2013.
Business conditions surrounding both subsidiaries have necessitated urgent action to address major structural changes in the machinery industry. These changes are marked by the maturation of markets in Japan causing a decline in the number of new equipment installation, while outside of Japan, growth in developing countries has brought about rapid market expansion.
Ube Machinery manufactures and markets various industrial machinery, excelling in technology and product development. Ube Techno Eng provides maintenance, repair, and modification services for equipment and machinery of customers, having gained an excellent grasp of client needs through its service network that spans the entire globe including Japan. The merger will create a unified framework for manufacturing, sales, and service to best leverage the business resources of both companies. This will serve as a platform to further penetrate the global market and better meet diversifying needs, with the aim of expanding the overall business.
The merger of Ube Machinery and Ube Techno Eng will comprise an absorption-type merger, and Ube Machinery which is the surviving company of the merger, is to inherit all rights and obligations of Ube Techno Eng. The merger will have no impact on the consolidated or non-consolidated earnings of Ube Industries.
|Company Name||Ube Machinery Corporation, Ltd.|
|Business Description||Manufacturing and sales of die casting machines, injection molding machines, extrusion presses, crushers, vertical mills, kilns, bulk handling machines, water screening equipment, environmental machinery, bridges, steel structures, and other industrial machinery. Maintenance, repair, and modification of machinery and equipment.|
|Location||1980 Okinoyama, Kogushi, Ube, Yamaguchi|
|President||To be determined|
|Capital Stock||6,700 million yen (wholly owned by Ube Industries)|
|Company Surviving||Company Absorbed|
|Company Name||Ube Machinery Corporation, Ltd.||Ube Techno Eng Co., Ltd.|
|Business Description||Manufacturing and sales of die casting machines, injection molding machines, extrusion presses, vertical mills, kilns, bulk handling machines, water screening equipment, bridges, steel structures and other industrial machinery||Service, maintenance, and modification of industrial machinery and equipment; manufacture and sale of automation and environmental equipment|
|Established||September 1999||December 1977|
|Location||1980 Okinoyama, Kogushi, Ube, Yamaguchi||1980 Okinoyama, Kogushi, Ube, Yamaguchi|
|President||Tokuhisa Okada||Shoichi Miki|
|Capital Stock||6,700 million yen||130 million yen|
|Shareholder||Ube Industries, Ltd. (100%)||Ube Machinery Corporation, Ltd. (100%)|
|Net Sales||30.5 billion yen (As of March 31, 2012)||11.9 billion yen (As of March 31, 2012)|