Mitsubishi Materials announced on Wednesday the firm dissolves the joint venture with Plansee Holdings of Austlia on December 1, 2009. The JV company was established for the global business of powder metallurgical (PM) products. They agreed that Mitsubishi Materials succeed to the related business in Japan and Malaysia while Plansee succeeds to the business in Germany, Spain, USA and China.
Mitsubishi Materials will post extraordinary loss at approximately 4 billion yen generated from the dissolve for July-September 2009. PM products are used mainly inside automobiles. The demand largely shrank after global economy recession. Mitsubishi Materials and Plansee decided to dissolve JV to cope flexibly and swiftly with rapidly changing automotive market and transform JV into region-specific business structures.Japan Steel Scrap Composite Prices (Sangyo Press)
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