Asia/Pacific News
MHI Forming New Marine Machinery Business
Japan's Mitsubishi Heavy Industries Ltd. (MHI) says it is forming a new company to handle marine machinery and marine diesel engine business starting October 1, 2013.
MHI said the new entity, which will be based in Nagasaki and have locations in Kobe and Tokyo, will help it expand its market share within the sector.
The new company will handle development, design, marketing, after-sales services, and licensing for the marine sectors, while marine procurement and manufacturing will remain with MHI and partner companies.
The new company will "aggressively" promote licensing to foreign companies and joint ventures in nations including Korea and China.
"By enabling responsive and efficient management and close interaction with customers and markets, the company will be able to compete more aggressively on the global stage," MHI said.
The company said the new structure is an extension of efforts to respond to severe market fluctuations in recent years, including the Mitsubishi Marine Energy & Environmental Technical Solution-system (Project MEET), which focused on energy savings, environmental goals, foreign alliances, and better after-sales service.
Project MEET included the creation of a marine diesel engine testing facility for low-speed, 2-stroke engines last year.
MHI Diesel Service Engineering Co. Ltd., an MHI subsidiary based in Hyogo Prefecture, Japan, will take on the marine businesses and consolidate them into the new entity, moving its headquarters to Nagasaki and changing its company name.
