MHI and JTEKT reach basic agreement for machine tool business tie-up

Mitsubishi Heavy Industries and its subsidiary Mitsubishi Heavy Industries Machine Tool have reached a basic agreement with JTEKT Corporation to form a business partnership, including capital participation, in machine tools and precision tools. A formal agreement is targeted by July 31, 2018.

“By pooling their respective management resources, the three companies seek to enhance their competitiveness in the market for machine tools and expand their business scale.”mhi.com

• 3 sources
• mhi.comBasic Agreement reached with JTEKT toward Tie-up in Machine Tool Business-- Aims Set on Enhancing Competitiveness and Expanding Business Scale -- | Mitsubishi Heavy IndustriesMitsubishi Heavy Industries, Ltd.Dec 22, 2017
• world-nuclear-news.orgEDF and MHI to collaborate on Atmea joint venture - World Nuclear NewsJan 5, 2018
• metalmecanica.comAcercamientos entre Mitsubishi y JTEKT | Noticias - METALMECÁNICAJan 9, 2018

Summarized from public sources; check the original articles before acting on it.