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| June 30th, 2000 No.0893 | ||
| MHI REORGANIZES ITS MACHINE TOOL AND CORRUGATING MACHINERY BUSINESS IN THE U.S. |
| Tokyo, June 30th, 2000 -- Mitsubishi Heavy Industries, Ltd. (MHI) today announced that it will reorganize its machine tool and corrugating machinery business in the U.S., effective July 1st, 2000. |
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Machine Tool Business Reorganization Effective July 1st, 2000, MHI Machine Tool USA, Inc. (MMT), a wholly owned subsidiary of MHI, will be reorganized and integrated into the Machine Tool Division of Mitsubishi Heavy Industries America, Inc. (MHIA), which is itself a wholly owned subsidiary of MHI. The newly organized Machine Tool Division will be based at the current headquarters of MMT in Addison, Illinois. Mr. Tamio Kono, the president of MMT will be assigned as the General Manager of the Machine Tool Division of MHIA. The reorganization is to better serve customers through the extended resources and commitment of MHIA, in addition to the existing marketing and service networks of MMT. The new Machine Tool Division will accelerate and strengthen machine tool sales and services for complete product lines of Mitsubishi Machine Tools in North America while continuing to pursue the serious task of meeting customers' satisfaction criteria. Corrugating Machinery Business Reorganization Effective July 1st, 2000, MHI Corrugating Machinery Company (MCMC) will be recognized as the Corrugating Machinery Division of Mitsubishi Heavy Industries America, Inc., (MHIA). The business will continue to be based at its facility at Hunt Valley (near Baltimore), Maryland. Mr. Hidekuni Nomura, the executive vice president of MCMC will be assigned as the General Manager of the Corrugating Machinery Division of MHIA. With this move, MHIA is firmly pledging its continued commitment to the business of corrugating and finishing machines in North America. # # #
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