Major machine builders collaborate

Mori Seiki Co. Ltd. and Gildemeister AG have entered a business and capital collaboration to promote global business activities. To strengthen the partnership, both parties agreed to a cross-shareholding investment of 5 percent in each company. Mori Seiki thus becomes the largest, single Gildemeister shareholder.

In addition, Mori Seiki’s President Masahiko Mori and Gildemeister CEO Rudiger Kapitza will hold reciprocal seats on the partner company’s board. They plan to control costs by leveraging the joint procurement and purchasing power of the two major machine tool builders on a global basis.

The cooperation between the two companies may extend to production, purchasing and the development of machines, as well as sales and services.