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| September 11, 2003 No.0960 | ||
| MHI To First Exhibit Three Machining Centers In Moscow Part of Initiative to Expand Machine Tool Marketing in Russia, Aiming at ¥1.5 Billion in Orders This Fiscal Year |
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| Tokyo, September 11, 2003 -- Mitsubishi Heavy Industries, Ltd. (MHI) will exhibit machining centers at Mashinostroyenie-2003, an international exhibition to be held in Moscow from September 16. The opportunity is being taken by MHI to spur its efforts to develop a market for its machine tools in Russia. MHI signed a distributorship agreement with the Russian firm CF-Technologies in November 2002 and now devotes its full resources to winning orders, targeting 1.5 billion yen in business from this market this fiscal year. | ||
Mashinostroyenie-2003 is the fifth international biannual exhibition for mechanical engineering, including, machine tools, wood working machines and electronics devices, that is to be held in Moscow. The Moscow show marks the first time MHI will be exhibiting its machine tools in Russia. Three machining centers will be on view: two vertical models (M-V70En and M-V5Cn-L) and one horizontal (M-H5Bn). They will be on display in CF-Technologies' booth. New equipment installations are being actively pursued in all sectors in Russia as part of industry revitalization efforts, and demand is especially strong for machine tools, which are essential to the production of other industrial products and machines. Inquiries are particularly brisk from manufacturers in segments relating to power generation equipment, construction machinery and automobiles, with interest ranging from heavy-duty five-face milling machines to grinding machines and gear-cutting machines. An increasing number of negotiations of significant scale are now under way. MHI recognizes the strong growth potential of the Russian market and has positioned it as one of major markets for MHI next to that of China. # # #
About Mitsubishi Heavy Industries Mitsubishi Heavy Industries, Ltd. (MHI), headquartered in Tokyo, Japan, is one of the world's leading global heavy machinery manufacturers, with consolidated sales of 2,593 billion yen (US$21.6 billion) in fiscal 2002 (year ended March 31, 2003). MHI's diverse lineup of products and services encompasses shipbuilding, steel structures, power plants, chemical plants, steel 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) |
