MHI, IHI & DBJ Join Forces On Investments

By Joseph R. Fonseca
Monday, September 01, 2014

 

Mitsubishi Heavy Industries, Ltd. (MHI), IHI Corporation and the Development Bank of Japan Inc. (DBJ) concluded a three-way formal agreement today on their respective investments into a new commercial aero engine company, Mitsubishi Heavy Industries Aero Engines, Ltd., to be launched on October 1. The new company will succeed to MHI's business in commercial aero engines under a company split action, as MHI previously announced on March 31 and August 28.

To solidify its position as a partner company in joint international development programs in the commercial aero engine market - where continuous and robust growth is expected - the new company will focus on improving its financial base. It will also pursue enhanced competitive operation by improving productivity through the formation of a large-scale cooperative production.

Specifically, in the area of low-pressure turbine blades, a product expected to mark increased production in coming years, the new company will forge long-term cooperative production ties with IHI that possesses one of the world's leading production capacities in this field. Initiatives will also be directed toward creating a wholly integrated supply chain for engine parts - an area that demands advanced machining technologies - by supporting cooperative enterprises of the new company and forging an industrial cluster. With these various undertakings, the new company will progressively enhance its competitive strength and build a strong presence within the international markets. As the major shareholder of the new company, MHI will carry out its responsibility for the new company's business management and continue to provide support in material procurement and research & development activities, etc.

IHI has opted to make a modest capital investment into the new company, considering that the commissioned production of low-pressure turbine blades for the new company will be a long-term cooperation. IHI expects the production cooperation will further strengthen cost competitiveness of its world's leading blade production plants in Soma, Fukushima, through further enhancement of its capability in securing low-pressure turbine production volume with greater stability.

DBJ has supported Japan's aircraft industry over the course of roughly 30 years, tracing back to its predecessor before undergoing incorporation in 2008. In the present instance again, the bank is committed to providing backup support to strengthen the global competitiveness of Japan's aero engine industry, through provision of risk money to the new company, leveraging Fund for Japanese Industrial Competitiveness.

MHI, IHI and DBJ aim to work closely with the newly launching company and pledge to provide their full support to the new entity's business development.

Maritime Reporter October 2013 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Marine Propulsion

Volvo Penta's New Keel Cooling Option

Volvo Penta is offering factory-built keel-cooled engines for the entire line of marine commercial inboard and sterndrive D4 3.7-liter and D6 5.5-liter engines.

Permanent Magnet Technology for Maritime Propulsion

Multipurpose vessels, especially those that operate primarily at part loads, have been facing pressure when it comes to making money in today’s business environment.

‘Green’ Hybrid-powered Research Vessel Christened

The Maritime Aquarium at Norwalk christened a larger, “greener” new research vessel on Friday, September 26 in preparation for launching a new era in examining,

Finance

Norvestor to Become PG’s Largest Shareholder

Norvestor VI, L.P., a fund advised by Norvestor Equity AS, announced it has signed an agreement to invest in Ing Per Gjerdrum AS including its subsidiaries PG Hydraulics AS and PG Construction AS.

GasLog Closes First Option Vessels Dropdown

GasLog Ltd.  announced today the closing of the sale of two modern liquefied natural gas (“LNG”) carriers, the Methane Jane Elizabeth and Methane Rita Andrea,

Brent Holds Above $97, Eyes Worst Quarter Since 2012

Brent crude futures hovered above $97 a barrel on Tuesday, aided by firm U.S. and Chinese data, but the oil benchmark was on track for its deepest quarterly drop

Marine Power

Volvo Penta's New Keel Cooling Option

Volvo Penta is offering factory-built keel-cooled engines for the entire line of marine commercial inboard and sterndrive D4 3.7-liter and D6 5.5-liter engines.

Cummins Debuts Mobile Tier 4 Generators

Cummins’ certified Tier 4 Final QSB7 and QSL9 engine platforms form the basis for mobile sets that meet EPA regulations U.S. EPA Tier 4 Final certified mobile

‘Green’ Hybrid-powered Research Vessel Christened

The Maritime Aquarium at Norwalk christened a larger, “greener” new research vessel on Friday, September 26 in preparation for launching a new era in examining,

Marine Materials

Shock Test Machine Saves Navy Big Bucks

The Navy's new Deck Simulator Shock Machine (DSSM) improves shipboard electronics reliability while reducing testing costs as equipment evaluations began in Philadelphia,

Seakeeper Launches 5 New Models

Seakeeper proudly introduces five new models, offering stability and roll reduction for vessels 30’ and larger! The product range now includes the Seakeeper 5, 9,

Eastern Shipbuilding Start Construction of Dredge Barge ATB for Great Lakes

Eastern Shipbuilding is pleased to announce that on, Monday, September 15, 2014, Great Lakes Dredge & Dock Company, LLC  and Eastern Shipbuilding Group, Inc.

News

NY Harbor Supply & Distribution Fall Reception/Buffet

More than 600 attendees are expected at the 52nd annual New York Harbor Supply & Distribution Fall Reception/Buffet for the energy and energy related industries

Kounalakis Joins OW Bunker N. America

OW Bunker, a reseller and physical supplier of marine fuels, announced the appointment of Georgia Kounalakis to its physical supply operation in North America.

Louisiana to Get Natural Gas Liquefaction and Fueling Facility

Tenaska Bayou LNG expected to meet growing marine, transportation and oil and gas exploration and production demand on the Gulf Coast Tenaska NG Fuels, LLC and Waller Marine, Inc.

 
 
Maritime Careers / Shipboard Positions Maritime Standards Naval Architecture Navigation Pipelines Ship Electronics Ship Repair Ship Simulators Shipbuilding / Vessel Construction Sonar
rss | archive | history | articles | privacy | terms and conditions | 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: 0.1025 sec (10 req/sec)