MIba AG is to acquire 100% of Mahle Metal Leve Miba Sinterizados (MMLMS), the joint venture it holds with the Mahle Group, up from its current portion of 40%.
The purchase will take place at the end of June.
The company will now operate as Miba Sinter Brazil (MS) and means that Miba will be positioned on four continents with its own plant and expand to more than 6,200 employees worldwide.
MSB employs 340 people at its Indaiatuba site, near São Paulo. The company specializes in producing sinter components for the South American automotive industry and the global compressor industry, and generates annual revenue of around €30 million. ‘By acquiring all the shares in MSB, we are consistently following our path of global growth,’ said F Peter Mitterbauer, chairman of the management board of Miba AG. ‘Miba’s strategic goal is to operate production sites around the world where we see opportunities for our customers, and ourselves, to grow. Having a global presence is particularly essential in the automotive industry in order to play a strong role in the global markets.’
This story is reprinted from material from Miba, with editorial changes made by Materials Today. The views expressed in this article do not necessarily represent those of Elsevier.
