Miba increases its interest in Brazilian joint venture

Miba AG, which is listed in the standard market auction segment of the Vienna Stock Exchange, today signed an agreement to increase its interest in Mahle Metal Leve Miba Sinterizados Ltda in Indaiatuba, Brazil, by 10 percent from 30 to 40 percent. In addition, Miba has also agreed to strengthen the transfer of technology to the Brazilian manufacturing site so as to expand the present portfolio through the addition of new products.

The joint venture between Miba AG and the Mahle Group has been in existence since 1998. Mahle Metal Leve Miba Sinterizados Ltda manufactures sintered components for the South American automotive industry. The company employs 435 members of staff.