Japan:

Geothermal Turbine Companies Consider Merger (The Japan Times)

Hitachi CEO open to deeper ties, merger talks with Mitsubishi Heavy

Hitachi Ltd. CEO Hiroaki Nakanishi
(Courtesy Bloomberg)

Building gas turbines and pumps for thermal, nuclear and geothermal power plants already delivers more than one-third of revenues at Mitsubishi Heavy. It’s the Tokyo-based company’s biggest contributor to operating profit.

Hitachi Ltd.’s chief executive officer said he’s open to deeper ties, which could include merger talks, with Mitsubishi Heavy Industries Ltd., after the equipment makers failed in their bid for Alstom SA’s power business.

“We’ve built a relationship with them to talk frankly” about extended partnerships, Hiroaki Nakanishi said in an interview at a business forum Thursday in Tokyo. “The possibility of merger discussions shouldn’t be denied.”

Mitsubishi Hitachi Systems Americas is exhibiting at the GEA Geothermal Energy Expo, being held in conjunction with the GRC Annual Meeting, September 28 - October 1 at the Oregon Convention Center, Portland, Oregon, USA.

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