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Friday, Sep 278:26 AMVestas, Mitsubishi form offshore wind joint venture
Friday, Sep 278:26 AM| Comment!
- Vestas Wind Systems (VWDRY.PK) forms an offshore wind joint venture with Mitsubishi Heavy Industries (MHVYF.PK), sealing a deal that has been in the making for more than a year.
- Mitsubishi is expected to provide the venture with an immediate €100M ($135M) cash injection, followed by another €200M if certain targets are met.
- Vestas will transfer the development of its V164-8.0 MW turbine, its V112 turbine offshore order book, existing offshore service contracts and ~300 employees to the venture.
- The deal should ease some of the fears about Vestas' financial health and ability to compete in the market for offshore wind turbines with competitors with deeper pockets such as Siemens (SI).
Wednesday, Apr 39:03 PMMitsubishi Heavy Industries (MHVYF.PK +1%) bucks the weakness in Japanese markets after winning a $22B Turkish nuclear-power-plant contract along with France's Areva (ARVCY.PK). The team will build four Atmea1-type pressurized water reactors with a combined output of 4.5M kilowatts. Construction is to begin in 2017, with the first reactor coming on line by 2023. |Wednesday, Apr 39:03 PM| Comment!
Tuesday, Dec 272011, 2:04 AMJapan will ease some restrictions on weapons exports and allow them for international projects, following up on a proposal made last year. The move stands to benefit suppliers in the civilian aerospace industry such as Mitsubishi Heavy Industries (MHVYF.PK), Toray Industries (TRYIY.PK) and Kawasaki Heavy Industries (KWHIY.PK). |Tuesday, Dec 272011, 2:04 AM| 1 Comment
Friday, Aug 52011, 8:23 AMTalks between Hitachi (HIT) and Mitsubishi Heavy (MHVYF.PK) about a tie-up are reportedly in danger of collapsing, as Hitachi wants a full merger while Mitsubishi prefers to combine selected businesses. A total merger would create an infrastructure company with revs of $150B a year. (previous) |Friday, Aug 52011, 8:23 AM| Comment!
Thursday, Aug 42011, 7:56 AMSources say Hitachi (HIT -4.8%) and Mitsubishi Heavy (MHVYF.PK) are discussing merging some of their ops despite officials denying the talks even after Hitachi's president said on TV a deal was in the works. The negotiations almost stalled following the media reports of the discussions. (previous) |Thursday, Aug 42011, 7:56 AM| Comment!
Wednesday, Aug 32011, 3:53 PM
Thursday, May 202010, 4:38 PMMitsubishi Heavy Industries (MHVYF.PK) seeks damages from General Electric (GE) possibly in excess of $1B, accusing GE of scheming to monopolize the U.S. market for variable-speed wind turbines, citing among other things "sham" litigation filed by GE to stymie competition. |Thursday, May 202010, 4:38 PM| Comment!