MHI to License MET Turbocharger Production To STX Metal

(Press Release)
Tuesday, November 29, 2011
(Photo: Mitsubishi Heavy Industries )
Mitsubishi Heavy Industries, Ltd. (MHI) and STX Metal Co., Ltd., a marine diesel engine manufacturer in Korea, have signed an agreement under which MHI will license production and marketing of its MET Turbocharger*, a supercharger for marine diesel engines, to the Korean firm. By establishing a collaborative relationship with STX Metal, MHI aims for further market penetration of the MET Turbocharger in Korea, the world leader in marine diesel engine production. STX Metal is expected to complete production of the first unit of the MET Turbocharger in 2012.
STX Metal is a core company of Korea's STX Group, one of that country's leading business conglomerates. It supplies turbochargers and engine parts to STX Engine Co., Ltd. and STX Heavy Industries Co., Ltd., and employs a staff of about 600. In 2010 the company’s revenue totaled 955 billion Korean won (approx. 66 billion yen / US$850 million). The STX Group ranks fourth in the world in terms of production volume of marine diesel engines.
The agreement with STX Metal represents the third licensing of MET Turbocharger technology to Korea. Previously MHI licensed the technology to Hyundai Heavy Industries Co., Ltd. and Doosan Engine Co., Ltd., respectively the world's largest and second-largest diesel engine manufacturers. With licensing by MHI to the three companies cited, the MET Turbocharger now becomes the world’s frist turbocharger brand licensed to all Korean marine diesel engine manufacturers.
Going forward MHI will continue its quest to capture more than 50% of the world market share by establishing global production structure of MET Turbocharger aggressively. The latest licensing agreement will further accelerate that initiative.

Maritime Today


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

Maritime Reporter May 2016 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Technology

Maritime Future Summit: Digital Shipping

Autonomous ships, smart on-board systems: At the Maritime Future Summit on September 5, industry leaders will discuss the future of shipping. For the first time

Wood Group Bags Statoil MSA

Wood Group has been awarded an evergreen master services agreement (MSA) by Statoil to support the life cycles of its offshore  and onshore facilities. Work and

Subsea 7 Awarded $1bn Wind Farm Offshore UK Deal

Subsea 7 S.A. informed today the details of the major(1) contract award that was first announced on 20 May 2016 . The contract was awarded by Beatrice Offshore Windfarm Limited (BOWL)(2),

Marine Propulsion

ABB Saves 700,000 tons Fuel for Marine Vessels

ABB’s environmental friendly Azipod propulsion system brings greater fuel efficiency to diverse shipping segments ABB today announced the total fuel savings

First Cruise Company Fined under Australia’s New Fuel Rules

Australia’s NSW Environment Protection Authority (EPA) has fined Carnival PLC $15,000 after one of its P&O Cruises ships, the Pacific Jewel, breached new low sulfur fuel regulations in Sydney Harbour.

New Low-emission Hybrid Azistern Tug Design

Offshore Ship Designers (OSD) has designed a powerful, low-emission compact e-tug to further augment its Azistern series of vessels. Among other roles, the vessel

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Offshore Oil Pipelines Pod Propulsion Ship Electronics Ship Repair Ship Simulators Shipbuilding / Vessel Construction 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: 0.0702 sec (14 req/sec)