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Dec 22, 2017 16:09 JST

Source: Mitsubishi Heavy Industries, Ltd.

MHI: Basic Agreement Reached with JTEKT toward Tie-up in Machine Tool Business
Aims Set on Enhancing Competitiveness and Expanding Business Scale

TOKYO, Dec 22, 2017 - (JCN Newswire) - Mitsubishi Heavy Industries, Ltd. (MHI) and its wholly owned Group company Mitsubishi Heavy Industries Machine Tool Co., Ltd. (MAT) have reached a basic agreement with JTEKT Corporation to commence discussions toward forming a business partnership, including capital participation, in the field of machine tools and precision tools.

By pooling their respective management resources, the three companies seek to enhance their competitiveness in the market for machine tools and expand their business scale. Their shared aim now is to agree on the conditions necessary to forming a tie-up, and conclude a formal agreement, by July 31, 2018.

Going forward, by integrating their respective areas of proven strength through a formal partnership, MHI, MAT and JTEKT look to pursue synergies in technology, marketing and cost competitiveness, to achieve their further business development.

Contact:
Mitsubishi Heavy Industries, Ltd.
Joseph Hood, PR Manager
Email: mhi-pr@mhi.co.jp
Tel: +81-(0)3-6716-2168
Fax: +81-(0)3-6716-5860
Source: Mitsubishi Heavy Industries, Ltd.
Sectors: Engineering

Copyright ©2024 JCN Newswire. All rights reserved. A division of Japan Corporate News Network.

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