Mitsubishi Heavy Industries, Ltd. (MHI) has reached a basic agreement with Oshima Shipbuilding Co., Ltd. towards the formation of an alliance in the commercial ship business. The companies will seek business synergy and target sustainable growth in order to strengthen business competitiveness in the global market, while also respecting mutual independence.

The agreement with Oshima Shipbuilding will utilize the expertise of both companies, establishing a technical alliance to focus on development of new ship designs and technologies, standardization of design and construction, and efficient shared use of tools and equipment. The alliance follows on from a previous agreement reached at the end of March with Imabari Shipbuilding Co., Ltd. and Namura Shipbuilding Co., Ltd. Contracts for specific projects will be decided on an individual basis.

The new alliance will allow MHI to enhance competitiveness in shipbuilding, focusing on core engineering capabilities and expertise, while ensuring that Japan strengthens its shipbuilding capabilities in the face of a rapidly changing global industry.

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: http://www.mhi-global.com.
For Technology, Trends and Tangents, visit MHI's new online media SPECTRA: http://spectra.mhi.com.

Source: Mitsubishi Heavy Industries, Ltd.

Contact:

Joseph Hood, PR Manager
Mitsubishi Heavy Industries, Ltd.
Email: mhi-pr@mhi.co.jp
Tel: +81-(0)3-6716-2168
Fax: +81-(0)3-6716-5860