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 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

HHI to Deploy 3DEXPERIENCE Design Platform

Hyundai Heavy Industries Selects Marine & Offshore Industry Solution Experiences for Design and Engineering of Offshore Structures Dassault Systèmes,

Huisman Debuts Rope Luffing Knuckle Boom Crane

In order to provide reliable solutions for subsea installation in increasingly deeper water and offshore construction in severe weather conditions, Huisman introduces

Scafi Expands Fleet with Italian Damen Tug

Damen is to construct a new ASD 3212 tug for Scafi, the Italian shipping group that includes a number of international towing companies. The contract cements their

Mergers & Acquisitions

Knightsbridge, Frontline to Form US Capesize Company

Knightsbridge Tankers Limited and Frontline 2012 Ltd. have announced an agreement to combine Frontline 2012's remaining fleet of 25 fuel efficient vessels with Knightsbridge.

Fredriksen Joins Rival for New Capesize Firm

Shipping tycoon John Fredriksen is joining one of its shipping firms with rival Knighsbridge Tankers Ltd to create the largest U.S. listed Capesize firm, which

Shippers Vapores, Hapag-Lloyd Merger

A significant majority of shareholders in Chilean shipper Compania SudAmericana de Vapores lent their support to the firm's merger with Germany's Hapag-Lloyd,

 
 
Maritime Contracts Maritime Standards Naval Architecture Pod Propulsion Salvage Ship Repair Ship Simulators Shipbuilding / Vessel Construction Sonar 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: 0.1139 sec (9 req/sec)