Officials at the signing ceremony
Mitsubishi unit licenses propeller production to Chinese firm
TOKYO, October 21, 2014
Mitsubishi Heavy Industries Marine Machinery & Engine Co (MHI-MME), a group company of Mitsubishi Heavy Industries, has signed a licensing agreement with Changzhou Zhonghai Marine Propeller Co.
Under the deal, MHI-MME will provides CZZH the manufacturing and marketing rights to its marine propellers, said a statement.
The deal applied to the complete line-up of Mitsubishi Advanced Propellers (MAP) designed by MHI-MME, including the Mark-W, an advanced model delivering outstanding propulsive efficiency.
It was a result of CZZH’s aim to respond to the Chinese market's demand for high-performance propellers with fully integrated capabilities from design through manufacture, and MHI-MME seeking to achieve expanded penetration of Mitsubishi brand propellers in the fast-growing Chinese market for marine products.
The event was attended by MHI-MME president and chief executive officer Kazuo Soma and CZZH’s general manager Jiang Jun Hong.
CZZH is an independent corporation established in 1992 and headquartered in the city of Changzhou in Jiangsu Province, China. Initially the company launched operations manufacturing ingots, but in 2006 it shifted to production of propellers.
In March, CZZH brought a new manufacturing plant onstream, giving the company a production capacity in propellers of near 5,000 tonnes per year.
Meanwhile, MHI-MME offers one of the most expansive line-ups of marine machinery and engines, with offerings including two-stroke low-speed engines, MET turbochargers, propellers, marine boilers and turbines, deck cranes, deck machinery, fin stabilisers and steering gears. - TradeArabia News Service