MHI Licenses Low Speed Diesels to Vietnam
Mitsubishi Heavy Industries Ltd. said it has signed an agreement under which it will license its low-speed diesel engine technology to Vietnam's state-owned shipbuilding company. Under the agreement, Mitsubishi Heavy will provide Vietnam Shipbuilding Industry Corp. with the licensing rights to manufacture its large-sized diesel engines for 10 years until 2014. The accord also encompasses marketing and servicing of these engines in Vietnam.
With the move, Mitsubishi Heavy aims to further promote penetration of its engines into the Vietnamese shipbuilding industry, which is expected to grow rapidly amid the current boom in international shipping.