Hitachi looks to deepen ties with Mitsubishi

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Fresh from their failure to acquire Alstom Power, Hitachi’s chief executive says his company is looking to deepen its links with fellow Japanese firm Mitsubishi Heavy Industries.

“We’ve built a relationship with them to talk frankly” about extended partnerships, Hiroaki Nakanishi said in an interview at a business forum in Tokyo yesterday. “The possibility of merger discussions shouldn’t be denied.”
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Apart from deeper connections for both companies’ thermal power equipment operations, they haven’t yet worked out what other units would complement each other.

In 2012, the two companies agreed to merge their energy-equipment businesses, described by Nakanishi at the time as a step toward becoming the world’s biggest provider of thermal-power equipment.

à‚ “Our next challenge is Africa, where energy demand is strongest,” Nakanishi said. “Europe is quite close to Africa. For example, Alstom has many operational bases there. So we think GE’s Alstom deal will be a threat to us regarding some specific regions and fields. We have taken and think will need to continue to take countermeasures.”

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