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."

Maritime Today


The Maritime Industry's original and most viewed E-News Service

Maritime Reporter July 2016 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Marine Propulsion

Horizon Delivers Towboat Marty Cullinan for FMT

In June 2016 Horizon Shipbuilding, Inc. of Bayou La Batre, Ala. delivered the M/V Marty Cullinan, a 120’ towboat with a retractable pilot house, to its home port of New Orleans, La.

Insights: Kunkel Weighs in on Propulsion Technology

LNG? Methanol as fuel? Hybrid systems? Tier 4? Reducing noise? Cutting emissions without crushing fuel economy? Marine News readers have questions and Bob Kunkel has answers.

A Sea Change in Waterjet Technology

Longtime waterjet propulsion equipment provider NAMJet introduces key advancements for the workboat sector. Back in 2011, when boat builder Birdon went looking

 
 
Maritime Contracts Maritime Security Maritime Standards Naval Architecture Offshore Oil Pipelines Port Authority Salvage Ship Simulators 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: 0.0493 sec (20 req/sec)