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Ube acquires stake in Toyo Machinery & Metal

3:38 AM MDT | April 3, 2014 | Deepti Ramesh

Ube Industries says that its wholly owned subsidiary, Ube Machinery (Ube, Japan), has reached an agreement to acquire 1.45 million shares of Toyo Machinery & Metal (Akashi, Japan), from its major shareholder Hitachi, for ¥810 million ($7.8 million). Ube Machinery, which was established in 1999, manufactures, sells, and services die casting machines, injection molding machines, extrusion presses, crushers, kilns, conveying equipment, dust removal equipment, bridge and steel structures, floodgates, and other industrial equipment, Ube says. Toyo Machinery...

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