Announcement of merger with three companies

January 28, 2019

 

We would like to inform you that Diesel United, Ltd. (hereinafter “DU”) will merge with Power System Plants for Land Business Unit of IHI Corporation (hereinafter “IHI”), a parent company of DU and Niigata Power Systems Co., Ltd. (hereinafter “NPS”), a wholly owned subsidiary of IHI.

1. Purpose of establishing the new company
Currently DU conducts the manufacture and sales of marine large-bore diesel engines, dual fuel engines and diesel engines for power generation with high-quality lifecycle services. Meanwhile, NPS operates the manufacturing and sales of smaller size diesel engines, gas engines, medium size gas turbines and Z-Pellers (azimuth thrusters). IHI manufactures and constructs power systems with aero deliberative gas turbine.
Those organizations shall be integrated as a new company aiming for more efficient operations providing the best solutions with synergy effects towards the broad range of needs of customers.

2. Effective date
July 1, 2019 (scheduled)

3. New company
Company name:    IHI Power Systems Co., Ltd.
Headquarters:      14-5, Sotokanda 2-chome, Chiyoda-ku, Tokyo
Shareholders :      100% owned by IHI Corporation

4. Future outlook
This integration shall not affect the existing contracts and agreements with customers and business partners which will continue to be effective.
We will continue our business line providing our engines and services under the world brands of WinGD and MAN to satisfy the various needs of customers in future. Especially we are eager to keep on promoting our environmentally friendly low pressure dual fuel engine, X-DF, for the customers who are looking to achieve the net-zero-CO2 emission society.

 

 

As for details, please also refer to IHI’s Website https://www.ihi.co.jp/irdocuments/ir20190128-2e.pdf