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.
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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.
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