ROANOKE TIMES 

                         Roanoke Times
                 Copyright (c) 1995, Landmark Communications, Inc.

DATE: WEDNESDAY, April 11, 1990                   TAG: 9004110173
SECTION: BUSINESS                    PAGE: C-4   EDITION: METRO 
SOURCE: 
DATELINE: TOKYO                                LENGTH: Short

MITSUBISHI MERGER RESTORES OLD ORDER

Mitsubishi Metal Corp. and Mitsubishi Mining and Cement Co. surprised market analysts late Tuesday by announcing plans for a $2 billion merger.

The goal of the transaction, one of the largest industrial combinations ever in Japan, is to focus both companies on developing new high-technology industrial products.

The merger will restore the old prewar order. American occupation forces in Japan forced Mitsubishi Mining to spin off Mitsubishi Metal in 1950, since the Mitsubishi group had been heavily involved in Japan's war production and was regarded as anti-competitive.

The merger, to take effect Dec. 1, will result in a giant entity with $5.7 billion in sales, $5.6 billion in assets and about $250 million in annual pretax profits. - The New York Times 


 by CNB