Siemens and Mitsubishi have entered into a joint venture agreement. Under the terms of this agreement, Mitsubishi will hold a 51% stake in the joint venture while Siemens will hold the remaining 49% stake. Subject to approval by the competent authorities, the joint venture is expected to start operations in January 2015. Siemens and Mitsubishi plan to co-operate in the field of metallurgical industry and will form a globally-operating full-range supplier of facilities, products and services for the iron, steel and aluminium industry. The headquarters of the joint venture will be located in Great Britain and its main locations will be in Linz, Erlangen, Tokio and Hiroshima. The joint venture will have approximately 9000 employees.

A Linklaters team led by Dr Rainer Traugott, Dr Timo Engelhardt and Dr Florian Harder (all Corporate, Munich) advised on the deal. The team also included Dr Thomas Elser (Tax, Munich), Dr Wolfgang Deselaers (Competition/Antitrust, Brussels), Hiroya Yamazaki (Corporate Banking IMG & Project Practice, Tokyo), Iain Wagstaff (Corporate, London) and Christoph Rödter (Corporate, Munich).