# Mitsubishi Electric and Mitsubishi Heavy to form generator joint venture

Mitsubishi Electric and Mitsubishi Heavy Industries will establish a joint venture named Mitsubishi Generator in April 2024, with Mitsubishi Electric owning 51% and Mitsubishi Heavy 49%. The company will manufacture and service turbine generators for thermal, nuclear, and hydro power.

- Type: Acquisition
- Announced: 2023-12-11
- Where: Japan
- Value: $7.00M (1.00B JPY)
- Status: announced
- Products: turbine generators
- Sectors: [Power Generation Equipment](https://endata.com/sectors/power-generation-equipment.md)

## Companies

- [Mitsubishi Electric](https://endata.com/companies/2378.md)
- [Mitsubishi Heavy Industries](https://endata.com/companies/493.md) (partner)
- [Mitsubishi Electric](https://endata.com/companies/2378.md) (partner)
- [MTG](https://endata.com/companies/18614.md) (target)

## Sources

- [nikkei.com](https://www.nikkei.com/article/DGXZQOUC1179Q0R11C23A2000000/), 2023-12-11: "三菱電機と三菱重工業は11日、発電機事業の統合で2024年4月に設立する共同出資会社の社名を「三菱ジェネレーター」にすると発表した。"
- [mhi.com](https://www.mhi.com/news/231211.html), 2023-12-11: "Mitsubishi Electric and Mitsubishi Heavy Industries announced today that they have each signed a contract for an absorption-type company split with MTG Co., LTD."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.