Mitsubishi Heavy Industries Revamp Singapore Businesses

Press Release
Friday, September 28, 2012

MHI to launch new Mitsubishi Heavy Industries Engineering & Services Private Ltd. (MIES) in Singapore, integrating three local afiliated companies.

Effective October 1st 2012 Mitsubishi Heavy Industries, Ltd. (MHI) will launch a new company, Mitsubishi Heavy Industries Engineering & Services Private Ltd. (MIES), to supersede the current MHI Industrial Engineering & Services Private Ltd. (also abbreviated as MIES) after taking over various business functions of two other MHI subsidiaries in Singapore. Going forward the new company will handle a broader range of MHI business areas and will also serve as a global business center to support expansion of MHI's worldwide operations. Through this initiative MHI looks to further expand business in each of its product segments.

The current MIES, the merging company, engages mainly in environmental and chemical plant business. In its new incarnation it will take over and integrate the functions of two other local firms: business development and administrative and management (personnel, IT and procurement) functions relating to MHI's Shipbuilding & Ocean Development and Air-Conditioning & Refrigeration Systems businesses, previously performed by Mitsubishi Heavy Industries Singapore Private Ltd. (MHISP); and business development functions for the company's Power Systems operations, until now carried out by Mitsubishi Power Systems (Asia Pacific) Private Ltd. (MPS-AP). 


The new MIES will be capitalized at 15 million Singapore dollars (SGD), with plans calling for an increase to SGD35 million in the future. The company will be wholly owned by MHI. It will begin operations with approximately 70 employees. Kazuitsu Ito, Managing Director of the current MIES, will continue as head of the new company.

 

Maritime Reporter March 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

Carnival Sails to Profit

The world's largest cruise company Miami-based Carnival Corp reported a net profit of $49 million, or 6 cents per share in the first quarter ended Feb. 28.   That

Ukraine Arrests Turkish Ship for Visiting Crimean Port

Turkey owned merchant ship flying the flag of Tuvalu was arrested by Ukrainian authorities over a visit it made to a port in Crimea, reports Reuters. The ship's captain detained.

USCG Flush Ice down River Systems to Facilitate Shipping

The Coast Guard cutter fleet is flushing ice through the Great Lakes river systems to prevent ice jams and facilitate commercial shipping as the shipping season

Mergers & Acquisitions

CSIC, CSSC Dismiss Shipbuilder Merger Rumors

China's state-backed shipbuilding giants said they have not received any merger-related information from authorities, after an executive swap between the firms sparked a market rally in their shares.

Swire Pacific Offshore Acquires 2 Newbuildings

Shipowner and operator, Swire Pacific Offshore Operations (Pte) Ltd (SPO) celebrated the naming of two new vessels, Pacific Centurion, an Anchor Handling Tug Supply (AHTS) vessel,

Golden Ocean and Knightsbridge Complete Merger

The merger between Knightsbridge Shipping Limited and Golden Ocean Group Limited was approved today at special meetings of both companies' shareholders.      The new company,

 
 
Maritime Careers / Shipboard Positions Maritime Security Maritime Standards Navigation Pipelines Pod Propulsion Salvage Ship Repair Ship Simulators Shipbuilding / Vessel Construction
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: 0.1299 sec (8 req/sec)