Mitsubishi Heavy Seeks Cost Cuts at Steel Venture With Siemens

  • Japanese firm warns of contraction in steel-making equipment
  • Primetals venture set up last year with Siemens holding 49%

Mitsubishi Heavy Industries Ltd., maker of everything from submarines to nuclear reactors, is seeking to cut costs at its steel-making equipment venture with Germany’s Siemens AG in the face of a contracting market.

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