Machine Tools Japanese take over the reins at DMG Mori
Japan/Germany – Japan-based DMG Mori Co. has acquired further shares in the German DMG Mori AG and reached a total shareholding of 76% of shares in AG, including the shares by its consolidated company, DMG Mori GmbH, the company announced.
As a consequence, the long-standing chairman of the executive board of DMG Mori AG, Dr Rüdiger Kapitza, has on 6 April resigned from his position in view of DMG Mori Co.'s intention to conclude a domination and profit, agreement with DMG Mori AG as dependent company. He leaves the executive board by mutual agreement with the supervisory board, DMG Mori said. After more than 40 years of professional life and 20-years of service as chairman of the executive board of the company, the 61-year-old is bringing his operative activities to an end. According to the company, Dr Kapitza is clearing the way for a personnel realignment taking into account the changed shareholder structure with the majority shareholder DMG Mori Co.
Since 2009, DMG and Mori Seiki have been co-operating in sales, service, purchasing, development, design, manufacture and, more recently, financing. The pair have also had a cross-shareholding in each other since 2009.
In January 2015, the Japanese machine tool maker announced to expand its holding in the German partner, DMG Mori AG, to more than 50%. The Japanese offered €27.50 for the shares of DMG Mori AG it didn't already own.