Gildemeister increases stake in Mori Seiki to become top shareholder

German machine tool builder Gildemeister AG is now Japan's Mori Seiki's largest shareholder, following the purchase of more shares to take it to a figure of 5.10% from an initial 3.74%. Mori Seiki itself holds 20.1% of Gildemeister AG's shares.

The two companies announced an initial cross-shareholding in March 2009, which was actually put at 5% for each company at that time.

The two companies have collaborated in terms of sales, financing, machine development and manufacturing since then, but with the level of 'togetherness' increasing since then (see various other features/news on this site).

Most recently, the pair have announced a 50/50 joint venture company that will see the pair sell through 17 national companies, responsible for 37 European markets, under the DMG/Mori Seiki Europe banner. (DMG is Gildemeister AG's sales and service organisation.)

The two companies are exhibiting jointly at the forthcoming EMO exhibition - 19-24 September, Hanover, Germany - where they will take 7,300 m2 in hall two to display around 100 machine tools.

Image: Mori Seiki had its machines on show at the annual Gildemeister/DMG event in Pfronten, Bavaria, earlier this year

Author
Andrew Allcock

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Related Companies

DMG (UK) Ltd
Mori Seiki UK Ltd

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