Press Information

MHI Licenses Crane and Heavy-duty Material Handling Equipment
Technology to Anupam Industries of India
-- JV and Expansion to Asia and Middle East Markets Also in Sights --

No.1345
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Tokyo, April 13, 2010 - Mitsubishi Heavy Industries, Ltd. (MHI) has agreed to license its crane and material handling equipment technology for large-scale ports, including container cranes, to Anupam Industries Limited (ANUPAM), India's largest overhead crane builder. The two companies signed a licensing agreement in India today. Through licensing MHI aims to capture India's rapidly expanding market and also seeks to develop markets in Asia, the Middle East and Africa. With establishment of a joint venture in India also in its sights, MHI looks to accelerate business expansion in these regions in a quest to boost its overall ratio of overseas sales.

Under the agreement, initially the licensed products will be sold in India's domestic market only. Specifically MHI will provide ANUPAM with technology licensing for quayside cranes such as container cranes and transfer cranes, material handling systems such as loaders and unloaders, and steel plant logistics systems. MHI and ANUPAM are already collaborating in several business negotiations within India. MHI is also considering strengthening the two companies' collaborative relationship through establishment of a joint venture company in India. The geographical areas of collaboration will be progressively expanded to the entire Asian region, the Middle East and Africa.

ANUPAM, which was founded in 1973, is based in Anand, Gujarat, India's westernmost state. The company has completed numerous deliveries of various cranes to the steel, power, construction, cement, shipyard, fertilizer, petrochemicals, and heavy and general engineering sectors.

Thanks to the success of its economic deregulation policy introduced during the 1990's, India achieved over 9% economic growth for three straight years from fiscal 2005 through 2007. The country continues its strong growth despite the global economic crisis, maintaining a high growth rate. Along with infrastructure improvement and industry growth, local demand for large-size cranes and material handling systems is in a rising trend.

MHI's material handling sector, which includes cranes, has recently been recording annual sales near 20 billion yen, of which overseas sales account for less than 10%. Through collaboration with ANUPAM, MHI looks to increase sales initially in the rapidly growing Indian market and in future the entire Asian, Middle East and African regions. The company is also mulling the establishment of a production base in India to accommodate demand if business expands as expected, and to expand sales channels for these regions. In tandem with these initiatives, MHI will further strengthen its aggressive marketing activities, aiming to lift its overseas sales ratio of cranes to near 50%.