MHI, VINASHIN Sign Licensing Agreement

Maritime Activity Reports, Inc.

December 13, 2005

Mitsubishi Heavy Industries (MHI) signed an agreement to license its UE low-speed diesel engine technology to Vietnam Shipbuilding Industry Corporation (VINASHIN). Under the agreement, MHI will provide VINASHIN with the licensing rights to manufacture its large-sized diesel engines. The contract applies specifically to the Mitsubishi UEC-LA, LA, LSII and LSE engines with cylinder bores ranging from 330 to 680 mm. The agreement also encompasses marketing and servicing of these engines in Vietnam. The period of licensing is from 2005 to 2014.
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