PLANSEE Holding AG and Mitsubishi Materials Corp. signed a joint venture agreement to merge their relevant business activities in the field of powder metallurgical (PM) products under a holding company based in Luxembourg.

PLANSEE Holding AG (www.plansee.com) and Mitsubishi Materials Corp. signed a joint venture agreement to merge their relevant business activities in the field of powder metallurgical (PM) products under a holding company based in Luxembourg. With production facilities in Japan, Germany, Spain, U.S., Malaysia and China, the new company, Plansee Mitsubishi Materials Global Sinter Holding S.A., will focus on producing PM structural parts made of a variety of materials including iron, steel, bronze, aluminum and titanium for use in engine, transmission and chassis applications. The transaction will close in December 2005, and PLANSEE and Mitsubishi each will hold a 50% equity share.