News and Topics

Acquisition of L&T Plastics Machinery

10.01.2012

photo

On September 28, 2012, Toshiba Machine Co., Ltd. (President: Yukio Iimura) acquired all of the shares in Indian firm L&T Plastics Machinery Limited (Chief Executive: Mr. P. Kailas), making it a subsidiary of the Company. It will become a member of the Toshiba Machine Group from the current financial year, with a change of name to “TOSHIBA MACHINE (CHENNAI) PVT. LTD.”

In order to achieve significant growth in the molding machine business, which is seeing increasing commoditization, there is a pressing need for the Company to expand its presence in the global market, focused on emerging nations. The acquisition of L&T Plastics, which boasts the leading share of sales in the Indian market, gives the Company the opportunity to generate significant synergies within the Indian market.

Going forward, we will deliver products that meet the needs of our customers on a global scale as we organically integrate our complementary strengths and draw on the specialist technologies and expertise that both companies have built up in their respective markets and technological fields.