Euro Group S.p.A. (hereafter Euro) and Marubeni-Itochu Steel Inc. (hereafter MISI) are pleased to announce that they have formed a Strategic Cooperation called Lamination World Alliance dedicated to the business of Non-Grain Oriented Electrical Steel Lamination for Electrical Motors and Generators. In general terms Euro and MISI will secure to the Alliance their Global Manufacturing capacity, and customers network. Euro will also secure its range of Technologies while MISI its relationship with Japanese Steel Mills.
The Parties will share their Global business strategies, cooperate to increase their common presence in the Global Market and utilization of their respective existing facilities including the possibility of equity participation. On December 2012 Euro and MISI established the first symbolic common initiative, a Joint Venture named Euro-MISI Laminations Shanghai Co., Ltd, with the aim to cooperate in the Chinese Market in the manufacture and sale of stator and rotor laminations for electrical motors and generators.
As the next project, Euro and MISI are discussing to strengthen their partnership and cooperation in North America where Euro is already present with two manufacturing sites: Eurotranciatura Mexico located in Queretaro (Mexico) and Eurotranciatura USA situated in Paris Tennessee (USA). Through their cooperation Euro and MISI want to meet the growing demand for electrical and hybrid vehicles and strengthen their vision of “being the N. 1 Lamination Suppliers Alliance for high efficiency electrical motors and generators.
