Moscow, Russia, 27 February 2015 — Baker & McKenzie acted as Russian counsel for Siemens Aktiengesellschaft on the corporate and commercial aspects of its joint venture with Mitsubishi Heavy Industries, Ltd. (MHI). With this joint venture both partners are forming a globally operating complete provider for plants, products and services for the iron, steel and aluminum industry.
According to the agreement signed in May 2014, MHI will hold a 51-percent and Siemens a 49-percent stake in the joint venture. The joint venture started operations in January 2015. Both partners are contributing their metallurgical industry activities to the joint venture. The new joint venture integrates Mitsubishi-Hitachi Metals Machinery, Inc. — an MHI consolidated group company with equity participation by Hitachi, Ltd. and IHI Corporation. The new joint venture with approximately 9,000 employees will focus fully on business with iron, steel and aluminum-producing industry.
The Baker & McKenzie team was led by Moscow partner Sergey Krokhalev with key input from associates Denis Ezhov and Dana Sabayte.
Siemens AG (Berlin and Munich) is a global technology powerhouse that has stood for engineering excellence, innovation, quality, reliability and internationality for more than 165 years. Mitsubishi Heavy Industries, Ltd., headquartered in Tokyo, Japan, is one of the world’s leading heavy machinery manufacturers.
About Baker & McKenzie
Founded in 1949, Baker & McKenzie advises many of the world’s most dynamic and successful business organizations through more than 11,000 people in 77 offices in 47 countries. The Firm is known for its global perspective, deep understanding of the local language and culture of business, uncompromising commitment to excellence, and world-class fluency in its client service. Global revenues for the fiscal year ended 30 June 2014, were USD2.54 billion. Eduardo Leite is Chairman of the Executive Committee. (www.bakermckenzie.com)