Japanese equipment maker Ube Machinery Corp. Ltd. said Jan. 5 it has completed its previously announced acquisition of an 85 percent share of Mitsubishi Heavy Industries Plastic Technology Co. Ltd., combining the injection molding machinery businesses of the two companies.
Ube has set up a new entity, U&M Plastic Solutions Co. Ltd., to market products from the two companies.
Mitsubishi's Plastic Technology unit also said it was relaunching operations under a new name: U-MHI Platech Co. Ltd.
The two companies said their merger was driven by the “increasingly severe” business environment in the injection molding machinery markets both in Japan and globally.
“Through the integration of their businesses in this field, Ube Industries and MHI have opted to combine their respective strengths in technologies, product lineup, and sales and servicing networks in order to pursue enhanced strength,” they said, adding that they targeted “adding value through reduced manufacturing costs and timely anticipation of customer needs.”
In August, Ube set up a new sales and service office in Lexington, Ky., its second in the United States, to be closer to automotive parts suppliers in the southern U.S. The office is managed from its Ube Machinery Inc. unit in Ann Arbor, Mich.