Twin Disc Expands Marine Presence In Japan

Friday, February 02, 2001
Twin Disc is forming a majority-owned joint venture with Niigata Engineering Company, Ltd., of Tokyo, Japan. Twin Disc has had a long-standing and mutually successful relationship with Niigata Engineering. The new venture, named NICO Transmissions Co., Inc., will be an engineering and marketing company supporting Twin Disc's expanding global marine product line as well as a distribution company for NICO's family of transmission products.

Twin Disc also reported that it has sold its 25% ownership position in the Niigata Converter Company to Niigata Engineering and, as a result, will realize a pre-tax gain in its fiscal third quarter ending March 31, 2001. A portion of the gain, estimated to be approximately $2.7 million, will capitalize the new venture. Niigata Converter is being merged into Niigata Engineering.

Twin Disc Chairman and Chief Executive Officer Michael E. Batten stated: "We are pleased to be taking these steps with our Japanese associates, which will extend our already successful 48-year relationship into a new phase of cooperation. The terms of the joint venture agreement provide Twin Disc with exclusive distribution rights for NICO's marine transmissions up to 4,000 horsepower outside Japan and Korea and the capability of rationalizing NICO's and Twin Disc's marine product lines in the future. Twin Disc also will represent NICO's remaining products on a global basis. Niigata Engineering will benefit from the efficiencies of consolidating Niigata Converter's manufacturing operations. After a brief transitional period, we expect operations to commence on April 1."


Marine Propulsion

Royston Debuts Engine Diagnostics Service

Diesel power specialist Royston has expanded upon its traditional engine service and repair business with the introduction of a new engine diagnostics, health check and consultancy service.

MN100: Pacific Power Group

The Company: Established in 1958, Pacific Power Group has been a trusted partner for the marine power needs of the Western U.S. for more than 50 years. PPG provides

Wärtsilä to Launch Sea-Master at SMM

Set to launch at SMM 2016 in Hamburg September 6-9, 2016, the new Wärtsilä Sea-Master system uses digital technology to monitor shaft bearings and seals to help

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Maritime Standards Offshore Oil Pod Propulsion Port Authority Ship Repair Shipbuilding / Vessel Construction Winch
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.0766 sec (13 req/sec)