Hitachi, Mitsubishi Heavy to Ally in Siemens-Led Alstom Bid (Businessweek)
Hitachi Ltd. will team up with Mitsubishi Heavy Industries Ltd. in a bid for Alstom SA’s power business, strengthening the partnership in energy charted by the two Japanese companies in recent years.
The Japanese duo would join the Siemens AG-led attempt to counter a $17 billion offer by General Electric Co. for the French company.
The plan is a “good thing” for Hitachi, Katsumi Nagasawa, president of Hitachi’s power systems unit, said today in Tokyo. The bid won’t affect Hitachi’s alliance with GE in nuclear energy, he added.
Alstom is a big player in the global geothermal energy market. Recently, Alstom has announced buying an interest in a Turkish geothermal energy company and has been tapped to build the 25 MWe Los Humeros III - Phase A geothermal plant in Mexico.
Alstom and Mitsubishi Hitachi Systems Americas are both scheduled to showcase their products at the GEA Geothermal Energy Expo, the trade show at the GRC Annual Meeting, September 28 - October 2 at the Oregon Convention Center, Portland, Oregon, USA.
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