Notice related to completed procedures for the transfer of shares in Hitachi Tool Engineering, Ltd., and the change in company name
2015.04.01As officially announced in the release "Share purchase agreement for Hitachi Tool Engineering, Ltd." dated September 26, 2014, Mitsubishi Materials Corporation (President: Akira Takeuchi; hereinafter referred to as "Mitsubishi Materials") and Hitachi Metals, Ltd. (President : Hideaki Takahashi; hereinafter referred to as "Hitachi Metals") entered into an agreement under which Mitsubishi Materials will acquire 51% of the issued shares in Hitachi Tool Engineering, Ltd. (hereinafter referred to as "Hitachi Tool"), a wholly owned subsidiary of Hitachi Metals. The transaction is intended to strengthen the base of the cemented carbide products (cutting tools) business at Mitsubishi Materials and Hitachi Metals.
The companies hereby provide notice that the share transfer procedures are complete, the company has changed its name to Mitsubishi Hitachi Tool Engineering, Ltd. (hereinafter referred to as "Mitsubishi Hitachi Tool"), and the company will newly commence operations as Mitsubishi Hitachi Tool on April 1, 2015.
(1) Company name Mitsubishi Hitachi Tool Engineering, Ltd. (2) Name and title of representative Teruhiko Masuda, President and Representative Director (3) Location 1-2-1 Shibaura, Minato-ku, Tokyo (4) Business fields Manufacturing and sales of tips, cutting tools, wear-resistant products, tools for urban development, and various machine tools made of specialty steels, carbide alloys, etc. (5) Capital 1,455 million (6) Major shareholders and shareholding Mitsubishi Materials Corporation: 51%
Hitachi Metals, Ltd.: 49%
Mitsubishi Hitachi Tool symbol for communications