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Wednesday, 24 May 2017, 16:06 HKT/SGT

Source: Mitsubishi Heavy Industries, Ltd.
MHI to Split off Part of Manufacturing, Quality Assurance and Procurement Functions in its Industry & Infrastructure Domain to its Group Companies

TOKYO, May 24, 2017 - (JCN Newswire) - Mitsubishi Heavy Industries, Ltd. (MHI) will split off part of its Manufacturing, Quality Assurance and Procurement Functions in its Industry & Infrastructure Domain to Mitsubishi Heavy Industries Mechatronics Systems, Ltd. (MHI-MS), a group company of MHI and a small and medium industrial machinery business integration company to be established on October 1, 2017 as a surviving company of MHI-MS.

1. Purpose of the Company Split

As a measure to strengthen the small and medium industrial machinery business, as of October 1, 2017 the MHI Group will integrate the rubber and tire machinery businesses of the Group companies MHI-MS, Mitsubishi Heavy Industries Printing & Packaging Machinery, Ltd. (MHI-PPM) and Mitsubishi Heavy Industries Machinery Technology Corporation (MHIMT). Through the Integration, MHI seeks to promote financial stability and resistance to economic fluctuations, promote mobilization of human resources, distribute flexible resources among a wide range of businesses, and reduce fixed costs, aiming to establish a structure that can maintain stable business size and profit over the medium to long term.

In addition to this Integration, by splitting off the manufacturing, quality assurance and procurement functions of the businesses to be integrated from MHI to MHI-MS and the Integration Company, which will be the surviving companies after the Integration, MHI seeks to unify supply chains and strengthen its business structure.

2. Company split summary

a. Businesses to be split
1. Manufacturing, quality assurance, and procurement functions related to printing machines, paper machines, particle accelerators, and business incidental thereto.
2. Procurement functions related to rubber and tire machinery and related businesses.
3. Manufacturing functions related to food packaging machinery and business incidental thereto.

b. Summary of succeeding company for 1. and 2.

c. Summary of succeeding company for 3.

d. Schedule for company split (planned)

e. Others

Further details will be released as they are confirmed.

3. Future outlook

The impact of this company split on MHI's consolidated and non-consolidated earnings is minimal.

About Mitsubishi Heavy Industries, Ltd.

Mitsubishi Heavy Industries, Ltd. (MHI), headquartered in Tokyo, is one of the world's leading industrial firms with 80,000 group employees and annual consolidated revenues of around 38 billion U.S. dollars. For more than 130 years, the company has channeled big thinking into innovative and integrated solutions that move the world forward. MHI owns a unique business portfolio covering land, sea, sky and even space. MHI delivers innovative and integrated solutions across a wide range of industries from commercial aviation and transportation to power plants and gas turbines, and from machinery and infrastructure to integrated defense and space systems.
For more information, please visit the MHI Group website:
For Technology, Trends and Tangents, visit MHI's new online media SPECTRA:

Joseph Hood, PR Manager
Mitsubishi Heavy Industries, Ltd.
Tel: +81-(0)3-6716-2168
Fax: +81-(0)3-6716-5860

May 24, 2017 16:06 HKT/SGT
Source: Mitsubishi Heavy Industries, Ltd.

Topic: Press release summary
Sectors: Engineering
From the Asia Corporate News Network

Copyright © 2018 ACN Newswire. All rights reserved. A division of Asia Corporate News Network.

b. Summary of succeeding company for 1. and 2.
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c. Summary of succeeding company for 3.
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d. Schedule for company split (planned)
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