Energy News - Energy Technology - Energy Business

November 30, 2012

Japan's Hitachi, Mitsubishi Heavy to merge power units
Tokyo (AFP) Nov 29, 2012
Japanese industrial firms Hitachi and Mitsubishi Heavy Industries said Thursday they would merge their thermal power businesses by 2014 as they take on global giants Siemens and General Electric. The pair said they would set up a joint venture company that was 65 percent owned by Mitsubishi with the remaining 35 percent held by Hitachi, creating a combined firm with about 1.1 trillion yen ($13 billion) in annual sales. The merger would see the firms work together on a range of products including ... read more

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