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MHI Requests Arbitration Against Hitachi In Relation To South Africa Projects
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On July 31, 2017, Mitsubishi Heavy Industries, Ltd. ("MHI") submitted a request for arbiration to the Japan Arbitration Commercial Association ("JCAA") in Tokyo, relating to the demands against Hitachi, Ltd. ("Hitachi") to pay the price adjustment and other payments for ongoing projects in South Africa. The price adjustments and other payment issues were previously announced by MHI on February 9, 2017 ("Regarding MHI's Request for Payment from Hitachi, Ltd. Related to South Africa Project").
About MHI Group
Mitsubishi Heavy Industries (MHI) Group is one of the world’s leading industrial groups, spanning energy, smart infrastructure, industrial machinery, aerospace and defense. MHI Group combines cutting-edge technology with deep experience to deliver innovative, integrated solutions that help to realize a carbon neutral world, improve the quality of life and ensure a safer world. For more information, please visit www.mhi.com or follow our insights and stories on spectra.mhi.com.