Mitsubishi Heavy, Hitachi Partner In Competitive Power Biz

Law360, New York (November 29, 2012, 2:50 PM EST) -- Japanese power players Mitsubishi Heavy Industries Ltd. and Hitachi Ltd. on Thursday announced they will join forces against foreign competitors by merging their thermal power-generation systems business into an enterprise that could generate more than 1 trillion yen ($12.2 billion) annually.

The partnership will see Mitsubishi Heavy and Hitachi — which have already formed alliances in the areas of steel production, railway systems and hydroelectric power generation — team up to build gas and steam turbines, boilers, generators, geothermal power systems, environmental equipment and fuel cells,...
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