ENGLISH
|
JAPANESE
|
CONNECT WITH US:
Home
About
Contact
Log in
*
Home
Press release
Dec 18, 2019 19:05 JST
Source:
Mitsubishi Heavy Industries, Ltd.
MHI and Hitachi Settle on Projects Conducted by MHPS in the Republic of South Africa
TOKYO, Dec 18, 2019 - (JCN Newswire) - Mitsubishi Heavy Industries, Ltd. (MHI) and Hitachi, Ltd. have reached a settlement on a dispute relating to boiler construction projects in the Republic of South Africa conducted by Mitsubishi Hitachi Power Systems, Ltd. (MHPS).
MHPS is a joint venture between MHI and Hitachi, which was established by integrating their respective thermal power generation system businesses.
This settlement was reached through sincere and conscientious discussions between both companies. This settlement marks an amicable and final resolution to this issue, enabling both companies to focus on their respective businesses in an effort to drive forward corporate value.
The Presidents & CEOs of both companies commented on the settlement as follows:
Seiji Izumisawa, President & CEO, Mitsubishi Heavy Industries, Ltd.
I am pleased that MHI and Hitachi have been able to settle this case today. Despite a significant gap in the way we viewed the situation, we continued earnest discussions and were able to land on a conclusion that both sides could accept. I express my deepest thanks to all those working on these projects and the effort they are putting in over many years. We will now work towards the completion of the projects, along with strengthening the management of MHPS and transforming our power business to ensure sustainable growth.
Toshiaki Higashihara, President & CEO, Hitachi, Ltd.
I am pleased that we have reached the settlement for this long-standing issue today on satisfying conditions for both companies. This settlement was achieved by sincere discussion for the benefit of all stakeholders including our customers and shareholders. I would like to express my deepest appreciation to everyone concerned in both companies. Hitachi will further focus on social innovation businesses to become a global leader in contributing to realizing a human-centric society where people can live in safety, security, and comfort.
Source: Mitsubishi Heavy Industries, Ltd.
Sectors: Energy, Alternatives
Copyright ©2025 JCN Newswire. All rights reserved. A division of Japan Corporate News Network.
Latest Release
DENSO Acquires Axia Vegetable Seeds to Realize Sustainable Agriculture
Jul 04, 2025 16:20 JST
MHIET Launches 450kW Gas Cogeneration System Capable of Hydrogen Co-Firing
Jul 04, 2025 15:13 JST
Yachiyo Engineering and NEC launch adaptation finance study in Indonesia to calculate the adaptation value of disaster prevention measures
Jul 04, 2025 13:25 JST
Fujitsu to implement store monitoring solution for METRO Inc. in Canada, enhancing operational efficiency and policy compliance
Jul 04, 2025 13:19 JST
Fujitsu to develop ETF trading platform based on TSE's CONNEQTOR and provide it to Australian Securities Exchange
Jul 03, 2025 11:14 JST
Mitsubishi Motors Launches the All-New Grandis for the European Market
Jul 02, 2025 12:10 JST
Valuufy partners with Mainichi Future Creation Lab, Supporting New Approaches to Business Sustainability
Jul 02, 2025 12:00 JST
Fujitsu launches solution to enhance customers' global supply chain resilience
Jul 02, 2025 11:32 JST
MHI Receives Order to Supply Four Circulating Water Pumps for Units 5 and 6 of Sanmen Nuclear Power Plant in China Under Collaboration with Dongfang Electric Machinery
Jul 02, 2025 11:30 JST
Multi-purpose Arena in Odaiba Aomi Area TOYOTA ARENA TOKYO Construction Completed
Jul 01, 2025 22:56 JST
1Finity, a Fujitsu company, commences operations and reveals brand identity
Jul 01, 2025 22:53 JST
MHI Thermal Systems Begins Field Test of Jointly Developed "Surplus Renewable Energy Absorption and Release System"
Jul 01, 2025 22:40 JST
Japan's Telecommunications Carriers Strengthen Disaster Response Through Collaborative Information Sharing
Jul 01, 2025 22:30 JST
JCB and Mandai Wildlife Group Deepen Partnership with exclusive discounts for JCB cardmembers
Jul 01, 2025 16:00 JST
Fujitsu provides Japan's first AI-powered cloud-based library search service
Jul 01, 2025 11:30 JST
JCB Brings Apple Pay to Cardmembers in Vietnam
Jul 01, 2025 11:15 JST
First Shipment of LNG from the LNG Canada Project
Jul 01, 2025 11:00 JST
Approval in Principle (AiP) for World's First LCO2 / Methanol Carrier
Jun 30, 2025 20:30 JST
Acropolis Rally Greece: Day 4 Sunday success and second overall for TOYOTA GAZOO Racing's Ogier
Jun 30, 2025 20:15 JST
Mitsubishi Fuso-Hino Merger: 4 Firms Collaborate for the Future of Commercial Vehicles
Jun 30, 2025 20:10 JST
More Latest Release >>
Related Release
MHIET Launches 450kW Gas Cogeneration System Capable of Hydrogen Co-Firing
7/4/2025 3:13:00 PM JST
MHI Receives Order to Supply Four Circulating Water Pumps for Units 5 and 6 of Sanmen Nuclear Power Plant in China Under Collaboration with Dongfang Electric Machinery
7/2/2025 11:30:00 AM JST
MHI Thermal Systems Begins Field Test of Jointly Developed "Surplus Renewable Energy Absorption and Release System"
7/1/2025 10:40:00 PM JST
Approval in Principle (AiP) for World's First LCO2 / Methanol Carrier
6/30/2025 8:30:00 PM JST
MHI-AC&R Receives Recommendation Award of JARAC's 42nd Excellent Energy Saving Equipment Awards
6/30/2025 7:00:00 PM JST
MHI Receives Contract for Refurbishment of APM System at Singapore Changi Airport
6/25/2025 2:00:00 PM JST
MHI Receives Order to Supply 5 Models of Pumps, a Total of 34 Units, for Sizewell C Unit 1 and 2 in the UK from Trillium Flow Technologies
6/17/2025 5:10:00 PM JST
MHI Thermal Systems Receives A' Design Awards
6/4/2025 2:10:00 PM JST
Ministry of Energy of Uzbekistan and MHI Sign MOU to Conduct Joint Study of Decarbonization Strategy for Uzbekistan
5/27/2025 9:49:00 AM JST
MHI Conducts Flight Test for Hybrid-Type Medium-Sized UAV
5/22/2025 1:35:00 PM JST
More Press release >>