Tokyo -- Mitsubishi Heavy Industries, Ltd. (MHI), will establish a new subsidiary to handle the industrial machinery business, including rubber & tyre machinery, effective April 1, 2012. Part of the deal is to move production of rubber and tyre machinery overseas.
The new company, to be wholly-owned by MHI, will be created by integrating the industrial machinery business, currently being operated by the Industrial Machinery Business, Technology & Solutions Division of MHI, and three existing MHI group companies, including MEC Engineering Service Co., Ltd. (MEC).
Specifically, MHI's Industrial Machinery Business, Technology & Solutions Division, will be succeeded by MEC, a wholly-owned MHI subsidiary, through a company split. The new company will have its head office in Nishi-ku, Hiroshima Prefecture, and will mainly handle marketing, design, manufacturing, installation and after-sale services for rubber & tyre machinery as well as other equipment, such as material handling systems and upstream equipment in iron-making and chemical industry-use machinery.
The company said its rubber & tyre machinery unit will shift their production overseas to allow domestic operations to focus on the enhancement of marketing and engineering capabilities. The same applies to the company's material handling systems unit.
The newly established company will be directly managed by the Machinery & Steel Structure Systems business headquarters. The Industrial Machinery Business, Technology & Solutions Division will be dissolved.
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Press release from MHI