Ube merge two machinery businesses

Ube to merge two machinery businesses

11:25 AM, 1st April 2013
Ube to merge two machinery businesses

TOKYO, JAPAN: 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 1 October 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.

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