Realignment of PMG Group

Tokyo, Japan/Reutte, Austria -(MetalsNews,September 30, 2009) – the PMG Group, the specialist manufacturer of sintered automotive parts, today announced a change in its ownership structure. The decision was taken jointly by Austria-based Plansee Holding AG and Japan-based Mitsubishi Materials Corporation, both of which have a 50-percent stake in the company. This decision results in the end of the joint venture that was set up in 2005. The dissolution is scheduled for December 1, 2009. In light of the weak current demand for automotive products, both Plansee and Mitsubishi Materials want to focus on their home markets. The PMG Group’s operations in Japan and Malaysia will therefore be demerged and integrated into Mitsubishi Materials. PMG will remain a separate group, wholly owned by the Plansee Group. PMG’s head office will remain in Luxembourg, and it will employ 1,000 staff at its production sites in Füssen (Germany), Reutte (Austria), Mondragón and Mieres (Spain), Philipsburg, Pennsylvania and Columbus, Indiana (USA) and Shanghai (China). Plansee and Mitsubishi Materials have also reached an agreement that will enable both parties to continue using PMG patents and technologies in their respective home markets. PMG specializes in the manufacture of powder-metallurgical chassis, engine and gearbox components, plus innovative components that will help shape the future of the automotive market. It maintains close relationships with its customers, based on locally produced components and strong technical support. With its four divisions – Plansee High Performance Materials, Global Tungsten & Powders, Ceratizit Hardmetals & Tools and PMG PM Parts – the Plansee Group is one of the world’s leading suppliers of powder metallurgical products and components. The Group achieved worldwide sales of 1.1 billion euros in the 2008/09 fiscal year, and employed a total of 6,350 people. The fiscal year ends on the last day of February.