MarineLink News Search

MHI, Siemens Establish Production Machinery Joint Venture

Today Mitsubishi Heavy Industries, Ltd. (MHI) concluded an agreement with Siemens AG of Germany calling for the establishment of a joint-venture company (JV) in steel and metal production machinery effective as of January 2015 subject to regulatory approvals. According to MHI, the move has two aims: expansion of the product line in the steel and metal production machinery business and acceleration of globalization.