Save
Print[Ferro-alloys.com] Manganese Metal Company (MMC), South Africa, an electrolytic manganese producer in South Africa hosted a reception at Miyabi Hall at Imperial Hotel in Tokyo recently by inviting the persons concerned. As well as the acquisition of 49% of shares in this company from Valmont Industries, Inc., USA implemented by its parent company, MM Holdings this February to make the Company its 100% subsidiary being commemorated, this reception doubled as an announcement to the respective business partners in Japan and was hosted by EMS AND COMPANY LIMITED.
This lavish ceremony with the number of participants being more than 110 was attended by 3 persons from MMC such as Mr. Bernard Swanepoel, President and Chairman of MM Holdings, Mr. Leon Arthur, President of MMC and Mr. Buks Botes, Marketing Manager of MMC.
At the opening address, Mr. Swanepoel explained about (1) MMC has lifted its production volume from the initial production volume of 27,000 tone per annum to 30,000 tons per annum for these 4 to 5 years, 35% of which is shipped to Japan at the moment, (2) The Company treats Japan as the most important customer, (3) While the Company wants to keep and expand the long-term and stable partnership with the customers in Japan, it has felt the necessity for the investment for curtailment of the costs including reconstruction of in-house power generation and its facilities as the electricity cost and wages are going up and (4) Because of that, it was necessary for MM Holdings to acquire the shares from Valmont Industries which is a shareholder with a 49% interest and is negative about investing, and become a 100% shareholder.
Copyright © 2013 Ferro-Alloys.Com. All Rights Reserved. Without permission, any unit and individual shall not copy or reprint!
- [Editor:editor]
Daily News
Research
Magazine
Company Database
Customized Database
Conferences
Advertisement
Trade
Tell Us What You Think