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The German Federal Minister of Economic Affairs granted ministerial authorization for a joint venture between Miba AG and Zollern GmbH & Co. KG, overruling the FCO's prohibition. The joint venture will focus on hydrodynamic plain bearings, with commitments including €50 million investment in Germany.
Miba acquired a 25.1% stake in Voltlabor, an Austrian battery systems manufacturer, to combine expertise in thermal management and battery components for electric drives.