Shanghai: Shanghai MHI Engine, the diesel engine manufacturer jointly set up by Mitsubishi Heavy Industries Ltd (MHI) and Shanghai Diesel Engine Co., ltd (SDEC) has launched operation.
The jv aims to establish a solid position in the rapidly expanding Chinese market for industrial-use diesel engines by building up market share through competitively priced products, MHI said in a press release.
The JV is capitalized at RMB200m, with ownership divided equally between the two companies. It manufactures industrial-use diesel engines with power outputs in the 500 to 1,600 kW range under a manufacturing and marketing license from MHI. The Shanghai arm targets annual sales of 10bn yen within several years. [12/03/13]
