MHI, JTEKT tie-up in machine tool business

Mitsubishi Heavy Industries, Ltd (MHI) and its wholly owned Group company Mitsubishi Heavy Industries Machine Tool Co., Ltd. (MAT) have reached a basic agreement with JTEKT Corp. to commence discussions toward forming a business partnership, including capital participation, in the field of machine tools and precision tools.

 

By pooling their respective management resources, the three companies seek to enhance their competitiveness in the market for machine tools and expand their business scale. Their shared aim now is to agree on the conditions necessary to forming a tie-up, and conclude a formal agreement, by July 31, 2018.

 

Going forward, by integrating their respective areas of proven strength through a formal partnership, MHI, MAT and JTEKT look to pursue synergies in technology, marketing and cost competitiveness, to achieve their further business development.