Tokyo –The rubber and tire machinery business of Mitsubishi Heavy Industries Ltd (MHI) has been positioned within a new group company, the Japanese conglomerate has recently announced.
The Hiroshima-based manufacturer of rubber-compounding and tire-making machinery business is among a number of businesses to join the new company established 1 Oct and called Mitsubishi Heavy Industries Machinery Systems Ltd (MHIMS).
Part of the group’s Industry & Infrastructure (I&I) segment, MHIMS has principally been formed through the integration of subsidiaries Mitsubishi Heavy Industries Mechatronics Systems Ltd and Mitsubishi Heavy Industries Printing & Packaging Machinery Ltd.
Mitsubishi’s rubber machinery unit was before managed through Mitsubishi Heavy Industries Machinery Technology Corp., based in Nishi-ku, Hiroshima.
With around 2,000 employees, the new company will provide sufficient business scale to ensure global competitiveness, enhance financial stability, said MHI. The integration, it said, is part of a strategy to expand earnings through portfolio management of various businesses and achieving group synergies.
The I&I segment, explained MHI, “is pursuing restructuring and integration of small and mid-sized businesses as a strategy to strengthen these operations.”