MHI to Establish Four New Overseas Subsidiaries
Mitsubishi Heavy Industries, Ltd. (MHI) reported plans to add four new subsidiaries to its global network. The units, either completely new operations or upgrades from existing local representative offices, will be created in Brazil, India, Singapore and Korea. All four of the new bases are to be added in core markets where MHI is pursuing enhanced sales and procurement strengths to match evolving local needs.
The subsidiaries in Brazil and India will include: Mitsubishi Industrias Pesadas do Brasil Ltda., to be based in Sao Paulo, and Mitsubishi Heavy Industries India Private Ltd., to be located in New Delhi. Both will open for business in January. The new Brazilian subsidiary is being created specifically as a sales base responding to Brazil's solid development as a core country within Mercosur. In India, Mitsubishi Heavy Industries India will serve as a comprehensive regional base encompassing operations including procurement and production.
By way of response to expanding FTA movements, in December MHI will be establishing Mitsubishi Heavy Industries Singapore Private Ltd., to serve as a local sales and procurement base in Singapore. Mitsubishi Heavy Industries Korea Private Ltd. will be established in Seoul in January, as a sales base.
Along with the improvement and reinforcement of these new overseas subsidiaries, MHI is also aiming to reorganize its operating structure in China as that nation moves forward toward deregulation. A thorough review will be made of bases now operative in Beijing, Shanghai and Hong Kong.