JAPAN: Mitsubishi Heavy Industries plans to integrate its air conditioning and refrigeration business with its automotive air conditioning businesses.
A year after forming MHI Thermal Systems Ltd as a wholly-owned subsidiary, MHI is to integrate the company with MHI Automotive Thermal Systems Ltd from January 1, 2018.
The integrated company will retain the MHI Thermal Systems name with current president and CEO Kaoru Kusumoto continuing in the role in the combined business. The company will oversee design and manufacture of all products and systems, and their ancillary products, while supporting domestic and overseas Group companies.
MHI says the consolidation of air conditioning and refrigeration technologies and resources will enable it to strengthen its global competitiveness while also allowing it to focus on building more resilient management.
Tokyo-based MHI Thermal Systems and Aichi-based MCCJ are both wholly owned Group companies that took over their respective business operations from MHI through corporate spin-offs. MHI Thermal Systems was established in October 2016, MCCJ in January 2013. The two companies will be integrated via absorption-type split to form a successor company which will retain the MHI Thermal Systems name.