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Mitsui to participate in Gestamp Automoción S.A., a Spanish global leader
in designing and manufacturing of automotive components
Sep. 9th, 2016Mitsui & Co., Ltd
Topics
2
1. Outline of Mitsuiʼs investment
2. Understanding of the automotive industry
3. Profile of Gestamp Automoción S.A.(GA)
4. Strength of GA
5. Mitsui contribution to potential synergies
6. Relation with strategic partner GA
1. Outline of Mitsuiʼs investment 3
Purchase share of world largest automotive stamping component manufacturer Gestamp Automoción S.A.
Mitsuiʼs share 12.525%
Investment amount 416 million Euros (approx. ¥47 billion)*Adjusted based on GAʼs future financial results.
Investment timing Within FY ending March 2017 (plan)
<Safety and eco-friendliness requirements>①Tightening of crash performance regulations
・Crash performance regulations are becoming critical worldwide. Customer expectation on crash performance also increasing.
②Tightening of fuel consumption and CO2 emission regulations ・ Fuel consumption and CO2 emission regulations are becoming
critical worldwide.
2. Understanding of the automotive industry(1) 4
Demand of lightweight and high strength parts are increasing.
Side crash test Back crash testFuel consumption regulation
JP
US CH
EU
5
<Structural change of automotive industry>①Rise of Tier 0.5
・Automotive manufacturers development cost increasing due to demand of cutting edge technology, such as self-drive, IoT and HEV
・Tier 0.5, which deeply involved in co-development with automotivemanufacturers has been rising.
②Global platform・Automotive manufacturers are concentrating on concept designing to reduce development cost by part communization.
Demand of supplierʼs globalization and designing function are increasing.
Source : METI
2. Understanding of the automotive industry(1)
Global platform
Adjustable
Adjustable Fix Adjustable
JapanNorth AmericaEUAsiaChina
3. Profile of GA 6
Establishment 1997Head office Madrid SpainPresident Francisco José Riberas Mera, President and CEORevenue 7,035 million Euros(result of CY2015)EBITDA 760 million Euros(result of CY2015)Total assets 5,746 million Euros(as of ended 2015)
Rating S&P : BB(Stable)Moodyʼs : Ba2(Stable)
Profile of GAProducts of GABody in White, Chassis, Mechanism
Distribution of revenue (million Euros)
Lehman shock
EU financial crisis
Globalization
Acquisition of Edscha(Mechanism)
Technology development
Expansion to emerging countries
Acquisition of HardTech (Hot Stamping Technology) Acquisition of Tyssen Krupp Metal Forming
(Chassis)
Product development
Mitsuiʼs participation to GAʼs Americas operation
Diversification of product portfolio
Steady increase with cutting edge technology since establishment (Revenue 19 times larger since establishment)
[Technology for Light weight and high strength]4. Strengths of GA(1) 7
2D
3D
RollForming
Press hardening
Deep Drawing
Press (Partial) Hardening
AHSSStamping
RollForming
Hydroforming
2D
3D
Press hardening
1
2
3
4
5
6
UTSUltimate Tensile Stress [MPa]
CF15001400
1300
12001100
1000900
800
700600
500
400
Roll Forming + AHSSStamping
Weight reductionCrash performance
Part shape complexity
HF
HF: Hot Forming TechnologiesCF: Cold Forming Technologies
1
2
45 6
3
2D Roll Forming AHSS Stamping Roll Forming + AHSS Stamping
Deep Drawing
Hot stamping
Hot stamping with Softzone
HT1150~UTS1500
HT700 ~UTS980
HT550 ~UTS780
HT400 ~UTS590
Note: AHSS – Advanced High Strength Steel
Gestamp is the best partner for the OEM, with best knowledge of materials and processes, able to provide the optimal solution for each OEM requirement
Gestamp’s focus: weight reduction and increase in safety Leader in press hardening, the innovative technology that provides the best solution for a significant
part of the vehicle content in terms of crash performance + shape complexity + cost
Proposal based on GAʼs technology・Co-development with Automotive manufacturers from concept designing stage.・Weight reduction, increase strength and improve crash performance proposals to
Automotive manufacturers.・Die and equipment designing/processing capability and 3D simulation capability.
8
[Design proposal to automotive manufacturers]4. Strengths of GA(2)
9
[Global footprint]Production sites︓ 101 production sites (including those under construction)
in 20 countries.R&D sites : 12 R&D sites with over 1300 engineers.
・Sending guest engineers to automotive manufacturers around the world.・Global base designing and production.
4. Strengths of GA(3)
As of Apr/2016 (under construction)
EU 60 sites (+1)
Asia 13 sites (+2)
Americas 22 sites (+3)USA 6 sites (+1)Mexico 5 sites (+1)Brazil 6 sites (+1)Argentina 5 sites
10
Next Generation Model Development Designing Parts
Manufacturing
Mobility Value Chain
Material Supply Full Service Supplier Sales/ OEMAfter market
Complex Assemblies Vehicle Assembly by OEM
OEM
A
OEM
B
OEM
C
Material
IT Logistics
Business Development
Hot Stamping Multi Material
MITSUI CONTRIBUTION TO POTENTIAL SYNERGIES
Safety・High strength・Crash performance・Corrosion performance・Heat performanceEnvironment・Light weight・Multi Material
Drivability・Driving comfort・Vibration performance・Noise performanceProfitability• Cost
reduction・Development process
minimization
TIER 0.5
• New materials• Human resources• M&A support• Business Development
• Logistics optimization • Facility Maintenance• Smart Factory
5. Mitsui contribution to potential synergies
11
Riberas Family
GRI2015
Mitsui: 25%
Renewable Energies
GestampNorth and South
American operation2013
Mitsui: 30% Brasil S/C MAG2014
Mitsui:50%
Francisco José Riberas Mera• Gestamp Automoción
Juan María Riberas Mera• Gonvarri Steel Industries• Gestamp Renewables
Mitsui & Co., Ltd
Auto Components Steel Service Centers12.525%
6. Relation with strategic partner GA・ Mitsui has been strengthening the relation with GA since participation in to
GA Americaʼs operation and led to decide investment in GA.
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