NEWS
Combining strengths
MTU Aero Engines and Sagem (Safran Group) to form joint venture
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TU Aero Engines and Sagem have signed a Memorandum of Understanding (MoU) to form a joint venture in the development of safety-critical software and hardware for military and civil aviation applications. Located at the MTU campus in Munich, Germany, the new company is set to start its operations in 2012. The 50/50 joint venture will gather some 200 engineers, mainly from the current MTU organisation. Main products will include safety-critical engine controls for programs such as TP400-D6 for the A400M military transport aircraft, as well as further safety-critical hardware and software solutions such as controls for landing gear, braking, monitoring or information systems. “Our intention is to provide a sustainable perspective for our joint hardware and software skills and activities, while military budgets are decreasing. Together with Sagem, the JV can access a wider range of market segments and additional third party business,” explained MTU CEO Egon Behle. According to Philippe Petitcolin, CEO of Sagem, “this Franco-German JV will constitute an important step towards European consolidation of the sector and a high-quality vehicle to better answer to our customers in the context of pan-European programs and projects.” Visit: www.mtu.de
Magnitogorsk Iron and Steel Works to acquire Flinders Mines Limited
Addtech Group acquires Rollco
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agnitogorsk Iron and Steel Works OJSC (MMK) has announced the execution of a Scheme Implementation Agreement to effect the acquisition of Flinders Mines Limited by MMK. Flinders’ flagship asset, the PIOP (Pilbara Iron Ore Project), is located in the West Pilbara region of Western Australia. The PIOP has a large 917.3Mt JORC-compliant resource of high quality direct shipping and feed ore with average grade Fe 55.2 per cent and significant potential for further resource upgrades. With this transaction, MMK will gain access to a high-quality iron ore development project with a substantial resource base and robust economics with low operating and capital costs. MMK board of directors chairman Victor Rashnikov said, “I am delighted to announce our agreement to acquire 100 per cent of Flinders Mines. With the support of MMK and under the continued leadership of their professional management team,
Lödige cooperates with Semco in Brazil
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ebrüder Lödige Maschinenbau GmbH has established a strategic partnership with the Brazilian Semco Equipamentos Industriais Ltd. The Brazilian manufacturer of industrial mixers with a registered office in São Paulo will represent Lödige in South America as a distributor and licence holder.
18 Industry Europe
I am confident that Flinders will develop into a leading iron ore producer in Australia. This transaction represents another important step forward for MMK to become a highly efficient vertically integrated international metals and mining company.” Visit: www.mmk.ru
ddtech Components, a business area in the Addtech Group, has signed an agreement to acquire all outstanding shares in Rollco Holding AB. Rollco is a leading supplier of components and solutions for linear motion and automation solutions to the manufacturing industry in the Swedish and Danish markets. The Rollco group also has operations in the other Nordic countries and in Taiwan. Rollco will become a part of the business area Addtech Components where the company’s products will complement the existing sales of mechanical components in the Nordic markets. The Rollco group has 38 employees and a revenue of approximately 100 MSEK. The closing is estimated to take place in the beginning of January 2012. The acquisition is estimated to have a marginally positive effect on Addtech’s earnings per share during the current financial year. Visit: www.addtech.com
Semco has long experience in the production of mixers, reactors and dryer as well as the process technology field. Semco is now responsible for the sales and installation of Lödige machines in Brazil, Paraguay, Uruguay, Argentina and Chile. All standard components for process technology applications will be manufactured under licence directly in Brazil.
All South American countries are expecting a strong and sustained economic growth. The demand for imports is steadily growing. With the new partner Semco, Lödige will be able to react much better to the specific regional customer requirements. This will strengthen Lödige’s position on the South American market on a long-term basis. Visit: www.loedige.de
