The operation is subject to the signing of an investment agreement and approval by antitrust authorities.
The Japanese corporation Mitsui, a Gestamp partner in its American operations for the last three years, has approved its entry into the shareholder structure of the group based in Abadiño (Bizkaia) for a value of 416 million euros, equivalent to a 12.525% stake in the company. However, the final amount of Mitsui’s investment will be adjusted based on Gestamp’s future financial results and is subject to the signing of an investment agreement and obtaining necessary approval and authorization.
Francisco José Riberas, Chairman of Gestamp, said he was “very pleased to have a group with the strength, prestige and history of Mitsui among our shareholders”. “Having a partner like Mitsui will help us realize our strategic plan for growth over the coming years” he added.
Gestamp is focusing on Japan, where it already has 40 employees, obtains 6% of its turnover and will install one of its three new R&D centres this year to accompany the leading car manufacturers in their developments. The leap to Japan was preceded by the agreement signed in 2013 with Mitsui, to which it sold 30% of its North and South American operations. Its entry as a shareholder was not by chance. It was preparing for its future landing on the island accompanied by one of the four large Japanese corporations. Its influence among the other large Japanese groups and its presence in vital sectors for the Spanish company, such as steel, logistics, automotive and finance, has been crucial for the plans of the world-leading firm in hot stamping technology.
Since 2013, its link with Mitsui has provided the Spanish multinational with numerous synergies. In this respect, business with Japanese