Mitsubishi Heavy Industries, Ltd. (MHI) signs an agreement allowing STX Construction (Dalian) to produce & market marine deck cranes.
Through licensing to this company member of the STX group, which has shipyards in Korea, China and Europe, MHI aims to accelerate global market penetration of its technology-based marine deck cranes.
The deck cranes to be licensed are two models, currently on the market, having a 30-ton hoisting capacity and a working radius of up to 26 and 28 meters, respectively. MHI will supply STX Construction (Dalian) with components for the cranes, including hydraulic machinery.
MHI presently enjoys the largest share, 40%, of the Japanese market for deck cranes. For some time the company had been looking for a way to effectively penetrate sales into the shipyards of the STX group. Meanwhile STX Construction (Dalian) had been seeking to enhance its deck crane portfolio through the addition of competitive machines. The intentions of the two companies thus meshed and led to the conclusion of the licensing agreement.
STX Group is a conglomerate headquartered in South Gyeongsang Province, S. Korea. The group's main business is shipbuilding, with shipyards not only in Korea but also in Dalian and in Europe.