FRANKFURT (Reuters) - Germany's Siemens (DE:SIEGn) said it signed an agreement to enter a joint venture with Japan's Mitsubishi Heavy Industries (T:7011) to provide "plants, products and services for the iron, steel and aluminium industry".
The joint venture will be 51-percent owned by Mitsubishi Heavy, while Siemens will hold a 49 percent stake, the Munich-based engineering conglomerate said on Wednesday.
With about 9,000 employees, the venture will start operations in January 2015, pending regulatory approval.
(Reporting by Christoph Steitz; Editing by Eric Walsh)