Mori Seiki and Gildemeister reach a cooperation agreement
March 26
With this strategic partnership, both companies increase their offer. The objective for both companies is to achieve annual synergies of about EUR 15 million.
To reinforce the Alliance it has been agreed an exchange of shares. Each of the companies will participate in the other 5%, which confirms the lasting nature of this cooperation. Gildemeister has already bought shares of Mori Seiki amounting to 2 million, figure that will rise to 4.4 million, representing 5 per cent.
Mori Seiki, for its part, will buy shares of Gildemeister 2.3 million (5%), from a capital increase. Mori Seiki will buy the shares of Gildemeister at € 7.93 per share and becomes the largest individual shareholder in Gildemeister.
"The world of machine tools is already global." Meet and exceed the demands of the global economic crisis requires powerful alliances. "Will join our resources to achieve efficient advantages together," says the President of the Council of Administration Rüdiger Kapitza. "The directors of Gildemeister appreciate cooperation with Mori Seiki, in order to achieve new opportunities jointly".
