 |
||
| November 30, 2006 No.1148 | ||
| MHI Establishes First Power Systems Subsidiary in Thailand To Respond to Market Expansion in Southeast Asia |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Tokyo, November 30, 2006 - Mitsubishi Heavy Industries, Ltd. (MHI) has established a marketing and information-gathering base in Thailand in a quest to attract expanded orders overseas for its gas turbine combined-cycle (GTCC) plants and other power generation equipment. The new company, Mitsubishi Power Systems (Thailand) Ltd. (MPS-T), will commence full-scale operations on December 1, 2006. Through the new base MHI aims to further enhance its customer-tailored marketing activities in Thailand and neighboring countries, where large increases in power demand are expected. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
MPS-T is established by Mitsubishi Power Systems (Asia Pacific) Pte. Ltd. (MPS-AP) (48%), MHI (1%) and Thai local companies (51%). MPS-AP was established on July 1, 2006 as a head office overseeing MHI's power systems business throughout the Southeast Asia region. MPS-T is MHI's first subsidiary in Thailand dedicated exclusively to power systems operations. Electricity demand is expected to increase sharply in Thailand on the back of that country's solid economic growth in recent years. In response, power plant construction projects are being planned in significant numbers. Plans call for approximately 10,000 MW power generation capacity to be newly added between 2011 and 2015. Under Thai government policy, the country's electricity market is to be further liberalized and many independent power producers (IPP) are expected to enter the market, rivaling existing utility companies. MHI opted to establish a regional base for marketing and information gathering dedicated to power systems business in recognition of the need to strengthen its capability to respond quickly and effectively to the needs of the region's diversifying customers. In tandem with MPS-AP, MPS-T will explore the needs of the expanding power generation market by aggressively conducting proposal-oriented marketing activities. It will also widely cultivate the local market's trust in MHI by responding precisely to customer needs through involvement in various projects from their initial stage. At the outset the subsidiary will engage mainly in marketing and information gathering, but in the future MHI aims for MPS-T to become a window for EPC (engineering, procurement and construction) contracts as may be needed. The power systems business is one of MHI's core pillars for generating profits in its 2006 medium-term business plan, and increasing the company's share in the international markets is highly important. Following the establishment of the new base in Thailand, MHI intends to probe establishing other overseas bases for its power systems operations. Outline of Mitsubishi Power Systems (Thailand) Ltd. (MPS-T)
# # #
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, power plants, chemical plants, environmental equipment, steel structures, 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.) |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||
