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Licensed To Fulfill

Posted on February 17, 2011

Mitsubishi Heavy Industries Compressor Corp. (MCO), a subsidiary of Mitsubishi Heavy Industries Ltd. (MHI), has agreed to license its compressor technology to Hyundai Heavy Industries Co. Ltd. (HHI).

Licensed from MCO to HHI are compressors used for onshore gas production facilities and floating production storage & offloading (FPSO) units, as well as fuel-gas compressors used at power generation plants and others.

Under the agreement, HHI is allowed non-exclusive rights to manufacture and market compressors to engineering, procurement and construction (EPC) contractors and shipbuilders in Korea, in addition to using the compressors in its own plants and FPSOs. HHI looks to commence taking orders of the compressor units from these Korean companies immediately, with plans for annual sales of 30 units in three years, MHI said.

In the production of the licensed compressors, MCO will provide HHI with rotating components, such as rotors, and HHI will manufacture and procure non-rotating components and auxiliary equipment.

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