MHI and JTEKT Agree to Discontinue Talks on Tie-up in Machine Tools Business
Mitsubishi Heavy Industries Machine Tool Co., Ltd.
Tokyo, May 25, 2018 - Mitsubishi Heavy Industries, Ltd. (MHI) and its wholly owned Group company Mitsubishi Heavy Industries Machine Tool Co., Ltd. (MAT) announced on December 22, 2017 that they had reached a basic agreement with JTEKT Corporation to commence discussions toward forming a business partnership that included capital participation. However, the parties have now agreed to discontinue these discussions and terminate the basic agreement.
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.