MHI and Hitachi "collaborate" but no merger
MITSUBISHI Heavy Industries and Hitachi have cancelled their plans to form an air conditioning joint venture and, instead, will pursue 'multifaceted
collaboration' to include product development and material and component procurement.
Initially, MHI and Hitachi Air Conditioning Systems will
pursue joint development of indoor units and studfurther collaboration with other major components, including outdoor units.
The collaboration will also extend to procurement, with the two companies using their joint purchasing power to reduce component and material costs.
In addition, they will study the feasibility of collaborating in other areas including energy-saving systems for convenience stores and other chain type enterprises, Hitachi Air Conditioning Systems' chiller business and MHI's transport refrigeration systems.
In Japan, the two companies have a history of working together as suppliers of OEM ac products. There are also connections between the two companies in other areas: for the last five years a combined company MHI-Hitachi has been responsible for their respective rolling mill businesses.