Miba AG, headquartered in Laakirchen, Austria, will acquire full ownership of Brazilian Powder Metallurgy component manufacturer Mahle Metal Leve Miba Sinterizados (MMLMS) as of June 30, 2017, the company reports. With a production volume of 6,500 tons per year, MMLMS is reported to be the biggest producer of sintered components in Latin America. The company produces a wide range of PM parts including bearing caps, components for oil and water pumps, belt pulleys, chain sprockets, gear shift forks, synchroniser hubs and rings, and compressor components.
To date, Miba AG has held a 40% stake in the joint venture with Germany’s Mahle Group. The company will now operate as Miba Sinter Brazil (MSB). As a result of the acquisition, Miba Group will be positioned on four continents with its own plants and employ more than 6,200 employees globally.
MSB employs 340 people at its Indaiatuba site, near São Paulo, Brazil, and specialises in producing sinter components for the South American automotive industry and global compressor industry. The company reportedly generates an annual revenue of around €30 million. Miba has held an interest in the company since 1998 through a joint venture with the German Mahle Group; in 2013, Miba increased that interest from 30-40%. As of June 2017, Miba will own 100% of the venture.
“By acquiring all the shares in MSB, we are consistently following our path of global growth,” stated F. Peter Mitterbauer, Chairman of the Management Board of Miba AG. “Miba’s strategic goal is to operate production sites around the world where we see opportunities for our customers, and ourselves, to grow. Having a global presence is particularly essential in the automotive industry in order to play a strong role in the global markets.”
The automotive market in Brazil, and in the whole of Latin America, has been extremely challenging and volatile over the past years. However, according to Mitterbauer, “Miba AG’s shareholding in MMLMS has taught us about the Brazilian and the entire South American automotive market, which we have been following for almost 20 years. And we are convinced that the market will enjoy sustained, positive development after difficult years.”