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 Today

The Maritime Industry's original and most viewed E-News Service

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


UASC Sees Big Drop on Asian-Europe Route

Kuwait-headquartered United Arab Shipping Company (UASC) said that marked drop in Asian imports to Europe, made worse by a strong dollar, has heaped pain on container

Swan Energy to Invest $845 mln for FSRU Terminal

Swan Energy Limited will invest around Rs. 5,600 crore ($845 mln) towards setting up of Jafrabad LNG Port project in Gujarat with one jetty-moored Floating, Storage and Regasification Unit (FSRU).

Grandweld Delivers Vessel to ADNOC

United Arab Emirates leading shipyard Grandweld has delivered a dive maintenance and support vessel TAWAM1 to Abu Dhabi National Oil Company (ADNOC).   Grandweld

Marine Power

Nippon Foundation’s Sasakawa receives International Maritime Prize

Yohei Sasakawa, Chairman of the Nippon Foundation, has received the 2014 International Maritime Prize for his contribution to the work of the International Maritime

Rolls-Royce Targets Costs and Complexity in Quest for Growth

Rolls-Royce's new chief executive aims to strip out costs and complexity, rather than selling off chunks of the business, as he seeks to return the British engine company to growth.

Turbocharger Retrofits for Royal Caribbean

MAN PrimeServ informs it has won the contract from Royal Caribbean Cruises Ltd. (RCCL) to retrofit the turbochargers aboard four cruise liners from its fleet.   The

Maritime Contracts Maritime Standards Naval Architecture Navigation Pod Propulsion Salvage Ship Electronics Ship Repair Ship Simulators Shipbuilding / Vessel Construction
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: 0.0948 sec (11 req/sec)