Mitsubishi Heavy Industries Machine Tool (MAT), a Group company of Mitsubishi Heavy Industries, (MHI) and Fuji Oozx, are to integrate their automobile engine valve businesses.
In addition to assimilating its hollow-head valve production facilities into the joint venture company, MAT will also transfer its solid valve business to Fuji Oozx.
The new company, tentatively named ‘Fuji Hollow Valves,’ will be established in February as a wholly-owned subsidiary of Fuji Oozx and later succeed both MAT’s hollow-head valve business and Fuji Oozx’s hollow-stem valve business.
After the business transfer, MAT and Fuji Oozx will own 31.9% and 68.1% of the new company’s shares, respectively. Fuji Oozx director, Toru Suzuki, will serve as president of the new company.
The joint venture will further develop hollow engine valve technologies and know-how accumulated by the two parent companies and will manufacture both hollow-head and hollow-stem valves.
Marketing activities, including order-taking and sales, will be handled by Fuji Oozx.