Abstract: A machine tool includes a rotatable spindle, a spindle drive, a tool magazine, a tool changer including a rotating shaft, a rotating shaft drive motor, an angular position detector, a tool change arm having gripping units at both ends, and a controller. After interchanging a first tool mounted on the spindle and a second tool held in a tool pot, when rotating the tool change arm to. Oct 28, 2019 DMG MORI CO., LTD. Engages in the manufacture and sale of cutting machine tools. It also provides software, image processing, hardware development, measuring equipment, service support,. On 21 January 2015, the DMG MORI Seiki Aktiengesellschaft signed another cooperation agreement with DMG MORI Seiki Co., Ltd. This agreement specified objectives for strategic growth and sought to consolidate the successful cooperation between the companies. On 8 June 2015, DMG MORI Seiki Aktiengesellschaft became DMG MORI Aktiengesellschaft and DMG MORI Seiki Company Limited changed its name to DMG MORI Company Limited as a further confirmation of the merger. As a global corporation continually striving to be the world's largest and most respected international manufacturer of lathes, machining centers, multi-axis turning centers and grinders, we will.
Machine tool maker DMG Mori Seiki Co of Japan is to make a voluntary public takeover offer for the outstanding shares of fellow machine tool maker and partner DMG Mori Seiki AG of Germany.
The offer was set to begin 11 February, 2015 and run through to 11 March, 2015, according to press reports, with DMG Mori Seiki Co expecting to make an announcement by June.
Since 2009, DMG Mori Seiki Co (previously called Mori Seiki Co) and DMG Mori Seiki AG (previously called Gildemeister AG) have co-operated in sales, service, purchasing, development, design, manufacture and, more recently, financing. The pair have also had a cross-shareholding in each other since 2009.
According to its third quarter report, DMG Mori Seiki AG held 9.6% of DMG Mori Seiki Co’s share capital, while DMG Mori Seiki Co now holds 26.50% of DMG Mori Seiki AG’s share capital (additionally qualified as having voting rights).
Dr. Rüdiger Kapitza, CEO of DMG Mori Seiki AG and Dr Masahiko Mori, CEO of DMG Mori Seiki Co
A Bloomberg report of 22 January reported that DMG Mori Seiki Co had offered as much as €1.6 billion to expand its holding in German partner DMG Mori Seiki AG. It further said that the Japanese partner wants to acquire more than 50% of its cooperation partner. DMG Mori Seiki Co is to submit the details of its offer in the form of an offer document to the German Federal Agency for Financial Services Supervision within the next four weeks, the article also added.
A merger of the two companies had been on the cards for 2020.
The Japanese machine tool maker had 2013 financial year sales revenue of ¥160,728,000,000 – £900 million. The German side of the partnership had 2013 sales revenues of €2,054,200,000 – £1.53 billion.
DMG Mori CEOs justify merger plans at Germany Open House
At a press conference at the annual Open House event in Pfronten, Germany on 3 February, the chief executive officers of the German and Japanese DMG Mori Seiki companies explained the reasons for the share offer which is expected to result in the Japanese company taking a controlling stake in the German one.
Dr Ruediger Kapitza, CEO of DMG Mori Seiki AG, also announced that the German company had hit its targets for the 2014 calendar year announced in October (€2.3 billion, sales of about €2.2 billion and EBIT profit of €175 million). “That is record order intake, record turnover, record results,” he said, adding: “This is the best result in our 143 year history, and I am really very proud of that.” He said that more information would be released in the financial press conference in March.
By that point, the combined centre of gravity of the whole group may have shifted to Japan. Starting in mid-February, DMG Mori Seiki Co (the Japanese company) will offer €27.50 per public share, with an intention to acquire 50% of company shares, up from the 26.5% it currently holds.
Kapitza explained the rationale behind the move to bring the two companies even closer together. “50% is important. Why? We’re going to reach so many different topics; CELOS [a common CNC operator interface], joint IT, and we’re now really digging into things; we have to somehow hedge our efforts, because once our IT systems are together you can’t separate them anymore.”
He said that the companies have been seeking a way to merge for several years, following their cooperation that started in 2009, and considered several other methods before choosing this one. They considered establishing a new joint company and moving both operations into it, but several million Euros in transaction costs and the different shareholder laws in Germany and Japan created huge uncertainties that threatened the viability of the action. The pair also considered the German company taking over the Japanese one, but rejected it because it owns so little of the Japanese company – 9.6% – and because of German banking regulations, which were found to be less friendly than those in Japan.
So the only real surprise has been the timing; the merger had been scheduled to occur by 2020. It was changed to take advantage of favourable low interest rates, as finance is required to support the share purchase. Dr Masahiko Mori, CEO of DMG Mori Seiki Co, said: “I don’t want to borrow from the bank, but I have to; I want to minimise the money [cost] for the sustainability of the two groups coming together.”
Mori said that the offer price was chosen to be fair to company stakeholders, not day traders. “I have no responsibility to [short-term] shareholders. I have a responsibility for my customers, employees, and long-term shareholders [such as] typical German people, who have been shareholders in Gildemeister over the last 20 years. The average purchase price of the shares has been less than €15; that is why I offered €27.50. It is still a high price for me, but we have to show respect for the long-term shareholders.” He said later that he would not raise the offer price; the share value rose above it after news of the plan emerged in the last few weeks.
During the press conference, Kapitza strongly denied that DMG Mori AG would lose its identity as a result of the takeover. “We have to face global challenges and look to the future. A lot of people talk about globalisation, but hardly anybody is truly global.” He added: “Mori is also a name that is known, at Bielefeld [northern Germany, location of the Gildemeister plant] and elsewhere. Employees will see that they have safe jobs now, and in the future. They will also see that we are strong.” And he added later: “Just hankering after the past, personal emotions, is not businesslike.”
Although DMG Mori AG will post record results for 2014, Kapitza said that this performance is unlikely to be repeated in 2015, owing to global volatility. For example, the fall in the value of the Russian rouble, the Swiss franc and the Danish krone, and uncertainty relating to the European and American embargo on Russia over eastern Ukraine. However, in the latter part of the year, the company is planning to open an Ecoline machine assembly factory in Ulyanovsk, southeast of Moscow, which will offset some of the currency issues in the case of Russia.
For further details contact Retecon Machine Tools on TEL: 011 976 8600 or visit www.retecon.co.za
| Aktiengesellschaft | |
| Traded as | FWB: GIL |
|---|---|
| Industry | Manufacturing |
| Founded | October 1, 1870 |
| Headquarters | Bielefeld, Germany |
Key people |
|
| Products | Machine tools |
| Revenue | € 2.229 billion (2014)[1] |
| 7,236 (December 31, 2014)[1] | |
| Website | http://ag.dmgmori.com/en |
DMG MORI AKTIENGESELLSCHAFT (name written in capital letters; until September 2013: Gildemeister AG, until June 2015: DMG MORI SEIKI AKTIENGESELLSCHAFT) is one of Germany's largest manufacturers of cuttingmachine tools and a manufacturer of CNC-controlled Lathes and Milling machines.[2] Products include machines, industrial services and software and energy solutions. The SDAX technology group has 21 production sites worldwide and 161 international sales and service sites. The company is based in Bielefeld.
- 1History
History[edit]
On 1 October 1870, locksmith Friedrich Gildemeister founded the ‘Werkzeugmaschinenfabrik (Machine Tool Plant) Gildemeister & Comp’ back in the ‘pioneer days’ in Germany. In the following decades, the plant near the Cologne-Minden train station in Bielefeld was expanded to include several production facilities.
For over 100 years – until 1976 - the company was based across the street from the main railroad station, where the hotel Bielefelder Hof and the municipal exhibition hall are now situated. Gildemeisterstraße 60 in Bielefeld has since become the group’s headquarters. Today, 7,236 employees and 261 trainees work for the group worldwide.[3]
In 1890, the company had around 100 employees, among them a wages clerk and three technicians to assemble the machines.
In 1899, the former partnership was changed to a public limited company with capital assets of 1 million Goldmarks. In 1920 five engineers founded Maho AG as Mayr, Hoermann & Cie GmbH. Gildemeister went public in 1950 and at the end of 1969, the company became a public company with a broad spectrum of shareholders.
Merger of Deckel & Maho. Later Gildemeister[edit]
In 1993 Friederich Deckel AG and Maho AG merged. In 1994 Gildemeister AG acquired Deckel Maho AG and was renamed Deckel Maho Gildemeister AG.
In 2002, Gildemeister received approval from the German Stock Exchange for admission to the ‘Prime Standard’. Following restructuring of the German Stock Index in March 2003, the Gildemeister share was listed on the SDAX. At the end of December 2007, Gildemeister AG was included in the MDAX stock index.[4]
In 2008, the Public Prosecutor’s Office initiated proceedings against the Gildemeister AG CEO, Rüdiger Kapitza. The charges brought against him included embezzlement, fraud, corruption and tax evasion.[5] In late summer, the Public Prosecutor’s Office and the Financial Market Authority, BaFin, stopped their unsuccessful investigations into insider trading.[6] However, proceedings continued in other areas.[7] Investigations in Austria were also finally stopped in March 2013 and Kapitza was cleared of suspicion of embezzlement and fraud.[8]
Cooperation with Mori Seiki[edit]
In March 2009, the company signed a cooperation agreement with the Japanese company, Mori Seiki. This agreement allowed the company to further consolidate its sales and service network in global key markets. The cooperation in markets in Taiwan, Thailand, Indonesia and Turkey [9] was followed by the USA and India.[10]Since September 2011, the two companies have continued to further expand their joint market presence in Europe.[11]
In order to strengthen their successful global cooperation, Gildemeister and Mori Seiki signed a cooperation agreement and decided to align their company names. On 1 October 2013, Gildemeister Aktiengesellschaft became DMG MORI Seiki Aktiengesellschaft. Mori Seiki changed its name to DMG MORI Seiki Company Limited. On the global market, both companies used the DMG MORI brand.
On 21 January 2015, the DMG MORI Seiki Aktiengesellschaft signed another cooperation agreement with DMG MORI Seiki Co., Ltd. This agreement specified objectives for strategic growth and sought to consolidate the successful cooperation between the companies. On 8 June 2015, DMG MORI Seiki Aktiengesellschaft became DMG MORI Aktiengesellschaft and DMG MORI Seiki Company Limited changed its name to DMG MORI Company Limited as a further confirmation of the merger.
Both companies are main shareholders: DMG MORI AG (Gildemeister),[12] holds 9.6 per cent of DMG MORI CO. LTD. and DMG MORI CO. LTD. holds 52.54 per cent (status: 7 May 2015) of DMG MORI AG.[13]
References[edit]
- ^ abGildemeister AG. 'Geschäftsbericht 2014'(PDF; 1,6 MB). Retrieved 2015-06-21.[permanent dead link]
- ^'Machine Tool Scoreboard (Ranking der weltweit umsatzstärksten WZM-Produzenten)'. Archived from the original on 2007-09-29. Retrieved 2016-01-20.
- ^Gildemeister AG. 'Zwischenbericht 1. Halbjahr 2013'(PDF). Retrieved 2013-07-25.
- ^Gildemeister AG (2007-12-10). 'Gildemeister steigt in den MDAX auf'. Retrieved 2010-05-31.
- ^Handelsblatt (2008-01-16). 'Razzia bei Gildemeister'. Retrieved 2013-12-09.
- ^RP-Online (2008-07-14). 'Insiderhandel bei Gildemeister: BaFin stellt Ermittlungen ein'. Retrieved 2010-05-31.[permanent dead link]
- ^Focus (2009-08-16). 'Neue Ermittlungen gegen Gildemeister-Manager'. Retrieved 2010-05-31.
- ^NW (2013-02-28). 'Gildemeister-Chef Kapitza auch in Österreich entlastet'. Retrieved 2013-02-28.
- ^Gildemeister AG (2009-07-01). 'Gildemeister und Mori Seiki starten gemeinsamen Vertrieb'. Archived from the original on 2012-07-01. Retrieved 2012-03-23.
- ^Gildemeister AG (2010-03-11). 'Gildemeister und Mori Seiki gemeinsam in USA und Indien'. Archived from the original on 2012-07-08. Retrieved 2012-03-23.
- ^Gildemeister AG (2011-07-26). 'Gildemeister und Mori Seiki bündeln Aktivitäten in Europa'. Archived from the original on 2012-07-10. Retrieved 2010-03-23.
- ^Gildemeister AG (2011-08-02). 'Gildemeister stockt Anteil an Mori Seiki auf'. Archived from the original on 2012-02-04. Retrieved 2012-03-23.
- ^Radio Bielefeld (2015-04-02). 'Mori Seiki hält jetzt über 50 Prozent'. Archived from the original on 2015-04-02. Retrieved 2015-04-02.
Dmg Mori Seiki Contact
External links[edit]
Dmg Mori Seiki Coventry
| Wikimedia Commons has media related to DMG Mori Seiki AG. |
- Documents and clippings about Gildemeister AG in the 20th Century Press Archives of the ZBW