MHI, Hitachi announce new name for integrated thermal power business

MHI and Hitachi

Mitsubishi Heavy Industries (MHI) and Hitachi announced that the integrated thermal power business will be named Mitsubishi Hitachi Power Systems Ltd.

The companies announced the merger of the thermal power businesses in July. Takato Nishizawa will be the president and CEO of the integrated business when the deal is finalized in January 2014. MHI will own a 65 percent stake in the company and Hitachi will own 35 percent.

Hitachi also announced that Yasuo Fujitani, the current vice president and executive officer, CEO of Thermal Power Systems, and General Manager of Thermal Power Business Division, resigned effective Dec. 31. He will then be appointed as Director, senior executive vice president of the integrated business on Jan. 1.

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