Mitsubishi to Merge Its Two German Joint Venture Units

Sept. 8, 2010 - Mitsubishi HiTec Paper Bielefeld GmbH and Mitsubishi HiTec Paper Flensburg GmbH, two German producers of high quality communication paper, which are both joint ventures of Mitsubishi Paper Mills Ltd. and Mitsubishi Corporation in Japan, have announced plans to merge their companies.

The new company will be called Mitsubishi HiTec Paper Europe GmbH.

Mitsubishi said the merger is intended to streamline in-house processes and organizational structures, and to take advantage of synergies and increase efficiency.

The plants in Bielefeld and Flensburg will remain at their current locations and their production programs will be unaffected by the change, Mitsubishi said. At the same time, sales activities will be reorganized and centralized at the Bielefeld site.

"The new sales organization will provide a stronger regional focus and 'one face' to customers, regardless of what part of our product segments they are buying," said Dr. Hiroshi Tomimasu, managing director of the new company.

SOURCE: Mitsubishi Paper Holding (Europe) GmbH