Mitsubishi Electric, Mitsubishi Heavy Industries Plan To Integrate Power Generator Systems

(RTTNews) - Mitsubishi Electric Corp. (MIELF.PK, MIELY.PK) and Mitsubishi Heavy Industries, Ltd. (MHVYF.PK) have reached a basic agreement to establish a joint venture to integrate businesses in fields focused on power generator systems. Businesses subject to the integration will be transferred to a new joint venture company by way of absorption-type company split, separately. Mitsubishi Electric will be the majority shareholder and Mitsubishi Heavy Industries will be the minority shareholder.

The companies noted that the impact of the business integration on the business results of Mitsubishi Electric and Mitsubishi Heavy Industries will be announced when it becomes clear.