Tokyo, June 1, 2004 - (JCN Newswire) - Mitsubishi Heavy Industries, Ltd. (MHI; TSE: 7011), jointly with Sumitomo Corporation (TSE: 8053), has received an order for two different table-type CNC (computer numerical control) horizontal boring machines from NPO Saturn, Russia's largest manufacturer of gas turbines for aircraft. The order, worth approximately 400 million yen, stems from demand for large-scale modernization of NPO Saturn's outmoded processing equipment installed during the Soviet Union era. NPO Saturn is also planning second and third stages of modernization, with the total amount expected to reach 7 billion yen. In response, MHI intends to strengthen its marketing activities further in vigorous pursuit of follow-up orders.
M-HT 13/1250 table-type horizontal boring mill
The systems ordered this time, for use in processing gas turbine parts, are the M-HT13/1618 horizontal boring mill and the M-HT1250-5T 5-axis horizontal boring mill. Incorporating today's most advanced technologies, both machines enable reduction of processing time to one-tenth that possible using the equipment currently installed at NPO Saturn. Both systems are engineered for processing a wide variety of workpieces in small batches. The order for the systems was granted to MHI in recognition of its capabilities in producing both gas turbines and machine tools, giving the company supreme processing expertise relating to gas turbines.
NPO Saturn is based in Rybinsk, approximately 400 kilometers north of Moscow. The company produces engines for civilian aircraft, gas turbines for small-scale power plants and gas pumping stations, and compressors. It is capitalized at US$25 million and has more than 20,000 employees.
NPO Saturn is currently working to modernize its superannuated facilities, with plans calling for a total refurbishment over the next 2-3 years. The initial order represents one part of the first batch, which will total some 1.3 billion yen. Since NPO Saturn and MHI deal in a variety of products in common, including gas turbines and compressors, both companies hope to establish a long-term relationship and aim to exchange information regularly going forward.
On the basis of the order newly placed by NPO Saturn, MHI will vitalize its marketing efforts in the Russian machine tool market by actively seeking new orders from local companies across a wide spectrum of industries, including aircraft, construction machinery and automobiles.
About Mitsubishi Heavy Industries
Mitsubishi Heavy Industries, Ltd. (TSE: 7011, 'MHI'), headquartered in Tokyo, Japan, is one of the world's leading heavy machinery manufacturers. MHI's diverse lineup of products and services encompasses shipbuilding, power plants, chemical plants, environmental equipment, steel structures, industrial and general machinery, aircraft, space rocketry and air-conditioning systems. For more information, please visit the MHI website at www.mhi.co.jp.
About Sumitomo
Founded in 1919, Sumitomo Corporation (TSE: 8053; US: SSUMY) is one of the largest, major general trading companies in Japan. Sumitomo Corporation runs 26 offices in Japan and 124 overseas branches in 69 countries. Sumitomo Corporation not only conducts commodity transactions in all industries utilizing worldwide networks, but also provides related customers with various financing, serves as an organizer and a coordinator for various projects, and invests in businesses from the information industry to the retailing industry. Sumitomo Corporation thus shows great diversification as an Integrated Business Enterprise. Trading industries are Metal, Transportation & Construction Systems, Machinery & Electric, Media, Electronics, & Network, Chemical, Mineral Resources & Energy, Consumer Goods & Service, Material & Real Estate, and Financial & Logistics. For more information, please visit www.sumitomocorp.co.jp .
Contact:
Mitsubishi Heavy Industries, Ltd.
Hideo Ikuno
hikuno@golinharris.com
+81-3-5721-2521
Sumitomo Corporation
Jun Iwata,
Corporate Communications Dept
jun.iwata@sumitomocorp.co.jp
+81-3-5166-5000
June 1, 2004
Source: Mitsubishi Heavy Industries
Source: Sumitomo
Mitsubishi Heavy Industries (TSE: 7011) (U.S: MHVYF)
Sumitomo (TSE: 8053) (U.S: SSUMY)
From the Japan Corporate News Network
http://www.japancorp.net
Topic: Contract Awarded
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