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Ube to merge machinery business subsidiaries

5:26 AM MDT | March 28, 2013 | Deepti Ramesh

Ube Industries announced today that it will merge its two consolidated subsidiaries in the machinery business—Ube Machinery (Ube, Japan), and Ube Techno Eng (Ube). The merger will take effect on 1 October. It will be an absorption-type merger, and Ube Machinery, which will be the surviving company, will inherit all rights and obligations of Ube Techno Eng. The business environment of both the subsidiaries has necessitated urgent action to address major changes in the machinery industry, Ube says. The market in Japan has matured and has resulted in a decline...

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