MHI and Hitachi Joint Venture Includes Fuel Cells

30 Nov 2012

Asia mapMitsubishi Heavy Industries (MHI) and Hitachi are to integrate their businesses in thermal power generation systems and manage these jointly.

The joint venture will be established by 1 January 2014, with MHI and Hitachi taking equity interests of 65% and 35%, respectively. The JV will make gas turbines, boilers and fuel cells.

This move is intended to take advantage of the expanding global market, driven particularly by China and other emerging markets, as well as heightened environmental awareness. The strengths of the two companies will be combined to compete with other companies, specifically in Japan, that are intending to tap growing demand for electricity generating equipment in Asia.

More details of the merger are to follow.

Source: BBC and MHI news release

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