MHI Reaches Basic Agreements with Domestic Shipbuilders on Forming Alliances in Commercial Ship Operations

- Initiative Aimed at Strengthening Competiveness in Global Markets -

TOKYO, Mar 31, 2017 - (JCN Newswire) - Mitsubishi Heavy Industries, Ltd. (MHI) has reached basic agreements with Imabari Shipbuilding Co., Ltd. and Namura Shipbuilding Co., Ltd. in the wake of ongoing discussions focused on forming alliances in the commercial ship business. Discussions toward concluding a similar alliance with Oshima Shipbuilding Co., Ltd. continue. The agreements are targeted at achieving sustained growth through the pursuit of mutually complementary, synergy-generating alliances while respecting each partner's independence, in an overall effort to strengthen the competitiveness of all alliance partners in the global marketplace.

The newly completed basic agreements cover a variety of core issues, including: development of new ship designs and innovative technologies, sharing of designs and workforce, standardization of engineering tools and fitting equipment, and flexible application of each partner's construction capabilities. It is also expected that separate contracts will be concluded between MHI and each partner, stipulating how the alliance will be specifically applied to actual business operations.

Through the conclusion of the new alliances, MHI is looking to enhance business competitiveness around its core engineering strengths cultivated over many years, particularly in the areas of energy-saving and environmental technology. In the process, the Company aims to further boost the presence of Japanese shipbuilders in the dramatically changing global shipbuilding industry.

Contact:

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

Source: Mitsubishi Heavy Industries, Ltd.
Sectors: Transport & Logistics

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