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| June 29, 2006 No.1121 | ||
| MHI to Establish Hanoi Representative Office in Vietnam To Respond to Increasing Business Opportunities For Large-scale Social Infrastructure Projects |
| Tokyo, June 29, 2006 - Mitsubishi Heavy Industries, Ltd. (MHI) will establish a new representative office in Hanoi effective July 1, 2006, to respond to increasing business opportunities in Vietnam for large-scale projects relating to social infrastructure improvements, including power plant and subway construction, against the backdrop of the country's steady economic growth. Earlier, in 1994 MHI established a representative office in Ho Chi Minh City, Vietnam's commercial hub, where it has conducted activities mainly to promote sales of industrial machinery such as diesel power generators and printing machinery. With the establishment of the new Hanoi office, MHI will now step up its activities in Vietnam to cover the entire spectrum of the company's products, ranging from general machinery to large-scale projects related to social infrastructure improvements. |
Although large-scale projects of these kinds are developed and negotiated primarily in Hanoi, the capital, until now MHI has responded through the office in Ho Chi Minh City, approximately 1,200 kilometers away. Now, in response to a sharp increase in large-scale projects in the country, MHI has opted to establish a base for gathering business information in Hanoi, in order to more expeditiously conduct its business activities throughout Vietnam. The Hanoi Representative Office will initially operate in parallel with the office in Ho Chi Minh City, but from fiscal 2007 the Hanoi office will assume the leading role in activities in Vietnam, taking the Ho Chi Minh City office under its wing. Hiromu Saito, the current Ho Chi Minh City Office Chief Representative, will concurrently assume the position of Hanoi Office Chief Representative. Since 2000 Vietnam's economy has been growing at an annual rate of 6-7%, and in tandem with economic development the number of large-scale projects is increasing. Late last year MHI received a full-turnkey order from Electricity of Vietnam (EVN) for construction of the O Mon Thermal Power Plant. Now, the company will leverage its two-base structure in the country to further strengthen its order-taking activities in Vietnam. # # #
About Mitsubishi Heavy Industries Mitsubishi Heavy Industries, Ltd. (MHI), headquartered in Tokyo, Japan, is one of the world's leading heavy machinery manufacturers, with consolidated sales of 2,792 billion yen in fiscal 2005 (year ended March 31, 2006). MHI's diverse lineup of products and services encompasses shipbuilding, steel structures, power plants, chemical plants, environmental equipment, industrial and general machinery, aircraft, space rocketry and air-conditioning systems. For more information, please visit the MHI website (http://www.mhi.co.jp). PRESS CONTACT: Hideo Ikuno: h.ikuno@daiya-pr.co.jp Tel: +813-6716-5277, Fax: +813-6716-5929 Daiya PR (in charge of public relations for Mitsubishi Heavy Industries, Ltd.) |
