Steam Turbines: MHI in J/V with Chinese Company

Press Release
Monday, January 14, 2013
Steam Turbine Manufacture: Photo credit MHI

MHI to establish small/medium-size steam turbine & marine-use steam turbine marketing & design business with Qingdao Jieneng Steam Turbine Group.

Mitsubishi Heavy Industries, Ltd. (MHI) has signed an agreement with Qingdao Jieneng Steam Turbine Group Co., Ltd. of China, a major manufacturer of small steam turbines, under which the two companies will jointly establish Mitsubishi Heavy Industries Jieneng (Qingdao) Steam Turbine Co., Ltd. as a marketing and design unit for small and medium-size steam turbines and marine-use steam turbines. The JV is slated to begin operation in March 2013.

Through the Joint Venture, MHI plans to license pertinent turbine technology to Qingdao Jieneng Steam Turbine Group, and will pursue the sales expansion of the turbines manufactured by Qingdao Jieneng Steam Turbine Group.



MHI has been looking to fortify its global business structure to attract more orders and at the same time evade currency exchange risks. Qingdao Jieneng Steam Turbine Group has been seeking expansion into markets for medium-size steam turbines and marine-use steam turbines. The intentions of the two companies thus meshed and led to the agreement on the JV's establishment. 



Qingdao Jieneng Steam Turbine Group is a well-established turbine manufacturer founded in 1950. The company manufactures approximately 500 units annually, mostly small steam turbines below 60MW. It has some 2,300 employees, is focused on steam turbines for use in factories and power generation, and enjoys a considerable market share. It also enjoys an abundant track record in deliveries to the Asian markets, especially Indonesia and India.



Looking ahead, the JV will introduce globally competitive products into the Asian markets leveraging the combined capabilities in development and manufacturing of its two parent companies

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

Contracts

US Navy Awards $22mln Waterfront Inspection Deal

The U.S. Navy has awarded a five-year, $22 million contract to Appledore Marine Engineering, a specialist focusing exclusively on the inspection and design of marine infrastructure,

Keppel Delivers Jackup to UMW-OG

Keppel FELS, a wholly owned subsidiary of Keppel Offshore & Marine (Keppel O&M) has delivered UMW Naga 8, a KFELS B Class jackup rig, to Malaysia’s UMW Oil & Gas Corporation Berhad (UMW-OG).

Rolls-Royce to Design, Equip Canadian Stern Trawler

The shipbuilding company VARD Group AS in Norway has received an order from a Canadian company for a shrimp stern trawler to be designed and equipped by Rolls-Royce,

Marine Power

Rolls-Royce to Design, Equip Canadian Stern Trawler

The shipbuilding company VARD Group AS in Norway has received an order from a Canadian company for a shrimp stern trawler to be designed and equipped by Rolls-Royce,

Sea Breeze 2015 Kicks off in Odesa

Maritime forces from 11 nations kicked off the U.S.-Ukraine co-hosted multinational exercise Sea Breeze 2015 in Odesa, Ukraine and the Black Sea, Sept. 1. Sea Breeze,

MN: Corvus Energy

The Company: Corvus is a manufacturer of proven, high power Energy Storage Systems (ESS). Its field proven battery systems provide power to hybrid and fully electric marine propulsion systems.

 
 
Maritime Careers / Shipboard Positions Maritime Standards Naval Architecture Navigation Offshore Oil Pod Propulsion Port Authority Ship Electronics Ship Simulators Sonar
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: 0.5571 sec (2 req/sec)