MHI to Transfer Ownership Stake to MEG
Mitsubishi Heavy Industries, Ltd. (MHI) yesterday concluded an agreement with Miyaji Engineering Group, Inc. (MEG) whereby, effective April 1, 2015, MHI will transfer a 51% ownership stake in Mitsubishi Heavy Industries Bridge & Steel Structures Engineering Co., Ltd. (MBE), a group company, to MEG. Simultaneously, a shareholders agreement was also concluded between MHI and MEG. The Japanese market for social infrastructure is currently very robust, with strong demand in widespread evidence for projects to spur recovery in regions affected by the Great East Japan Earthquake, for upgrades to the nation's rapidly aging infrastructure, for new expressways and Shinkansen (bullet train) lines, and for facilities of various kinds in the runup to the 2020 Tokyo Olympic Games.
Tsunami-proof Breakwater Designed to Rise Up from Sea Bed
A Japanese consortium to build a Vertical Telescopic Breakwater (VTB), for Shimotsu Harbour. Obayashi Corporation, TOA Corporation, & Mitsubishi Heavy Industries Bridge & Steel Structures Engineering Co., Ltd. (MBE) a wholly owned subsidiary of Mitsubishi Heavy Industries, Ltd. (MHI),will begin construction of a Vertical Telescopic Breakwater (VTB), a buoyancy-driven vertical piling breakwater, in the harbor at Shimotsu in Wakayama Prefecture. Construction is scheduled to begin in early October 2012. The breakwater system is designed to swiftly rise from the sea bottom in the event of tsunami, and contribute to prevention or mitigation of tsunami impact to harbors and coastal areas. When completed, it will be the first such movable steel pipe breakwater system in the world.
