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Diesel Engines for China Market – Majors Set Up New Company

Mitsubishi Heavy Industries, Ltd. (MHI) and Shanghai Diesel Engine Co., Ltd. (SDEC), a major Chinese diesel engine manufacturer, have signed an agreement to establish Shanghai MHI Engine Co., Ltd., to manufacture and market diesel engines in China. The aim of the new joint venture is to make a full-fledged entrance into the rapidly expanding Chinese market for industrial-use diesel engines and to build up market share through more competitively priced products.