Mitsubishi Heavy Industries (MHI) concluded an agreement with Miyaji Engineering Group (MEG) for the transfer of MHI’s 51% ownership stake in Mitsubishi Heavy Industries Bridge & Steel Structures Engineering Co., Ltd. (MBE), a group company, to MEG. Simultaneously, a shareholders agreement was also concluded between MHI and MEG.
For many years MHI, MBE, MEG and Miyaji Engineering Co., Ltd. (MEC), a MEG subsidiary, have worked together on projects, and in the process, they have built up strong ties of trust and cooperation. All four parties share the belief that in order to achieve sustained growth and development of their bridge operations going forward, it will be necessary for them to pool and enhance their technological capabilities further and to boost their profitability through managerial streamlining and efficiency improvements. Based on this common perception, the four companies concluded a basic agreement toward forming a business tie-up in bridge operations. After subsequently taking a variety of possibilities under consideration, it was decided that MHI would yield a 51% ownership stake in MBE to MEG effective 1 April 2015.
The company name of MBE is slated to change to MM BRIDGE Co., effective 1 April 2015.
