Mitsubishi Heavy Industries Announces Close of Pratt & Whitney Power Systems
GLASTONBURY, Connecticut, May 17, 2013
GLASTONBURY, Connecticut, May 17, 2013 /PRNewswire/ -- Mitsubishi Heavy
Industries, Ltd. (MHI) announced today the completion of its acquisition of
Pratt & Whitney Power Systems (PWPS). The acquired company will now be known
as PW Power Systems and will be a core asset for a recognized global leader in
the power generation industry.
MHI is at the forefront of innovation and has set the standard for
high-efficiency power generation products by developing the most advanced gas
turbine in the world. As a part of MHI's continuing growth initiative, the
acquisition will enable MHI, which focuses on large capacity systems, to reach
a broader range of customers through PW Power Systems, which offers small to
medium sized power generation packages.
MHI's president, Shunichi Miyanaga, stated, "The synergistic effect of
combining the talent and resources of MHI and PW Power Systems will lead to
the significant growth of 'Energy & Environmental', one of MHI's four core
corporate sectors, and also increase MHI's competitiveness in the worldwide
power generation market."
"This will significantly extend MHI's equipment offerings and dramatically
expand its service capabilities, making it a one stop shop for many
customers," said Peter Christman, president of PW Power Systems. "At the same
time, aligning with MHI will be a significant strategic benefit expanding our
market reach and opening up new opportunities for PW Power Systems," said
MHI's resources and operations will also provide the essential synergy to
allow PW Power Systems to grow with the increasing demand for flexible
PW Power Systems customers will continue to benefit from the cutting edge
technology Pratt & Whitney offers with turbine engines as well as the
company's manufacturing, engineering and supply chain expertise.
PW Power Systems will be headquartered in Glastonbury, Connecticut.
About Mitsubishi Heavy Industries Mitsubishi Heavy Industries, Ltd. (MHI),
headquartered in Tokyo, Japan, is one of the world's leading heavy machinery
manufacturers, with consolidated sales of over $28 billion dollars in fiscal
2011, the year ended March 31, 2012. MHI's diverse lineup of products and
services encompasses shipbuilding, power plants, chemical plants,
environmental equipment, steel structures, industrial and general machinery,
aircraft, space systems and air-conditioning systems.
For more information, please visit MHI's website .
Contact: Lucia Maffucci, +1-860-368-5535, Lucia.Maffucci@pwps.com
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