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26 September 2020 The on-line newspaper devoted to the world of transports 18:24 GMT+2

November 12, 2019

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Mitsui E&S in negotiations with Mitsubishi Heavy Industries in order to start a partnership in the navalmeccanico field

Review of the plan of restructure of the company that previews a decided reduction of the activities in the field of the energy

The Japanese group Mitsui E&S, that it is active mainly in the fields of the energy, the shipbuilding and the infrastructures, has yesterday communicated a review of the plan of business restructure announced in spring with the scope to tackle to the difficult financial situation in which it pours the society, re-examination that previews an acceleration of the measures in order to resolve the state of crisis and of the sale of asset. The plan is centralized on a strong reduction of the activity in the energetic field, for example with the withdrawal from the projects for the construction of electric power plants in Japan who demands huge initial investments. To such purpose the group has announced to have also tight agreements of base for the sale of controlled Mitsui E&S Plant Engineering Inc. and of the division that take care of solar energy, let alone for the sale of the area on which the plant of Chiba rises that successively will be taken in rent. Moreover the plan includes the transfer of staff of the group that it will involve about thousand workers, of which about two third party will exit from the group as a result of the previewed sale of activity.

The restructure process will regard also the navalmeccanica division of the group, than previously it was called Mitsui Engineering & Shipbuilding, plan that it among other things previews to return the center of naval planning in the commercial field independent. The economic daily paper Japanese "Nikkei" has announced today that in order to throw again the activities in this field the group Mitsui E&S it has started contacts with the Mitsubishi Heavy Industries compatriot (MHOS) with the scope to agree a collaboration in particular turns to acquire orders for the construction of naval units for Marina Militare Giapponese. The project would presee the maintenance in activity of the current ship yards of the two groups and, in particular, a sharing of the job between the ship yard of Okayama of Mitsui E&S Shipbuilding Co. and the ship yard of Nakasaki of the MHOS.

In 2013 Mitsui Engineering & Shipbuilding it had started negotiations with the compatriot Kawasaki Heavy Industries (KHI) for the fusion of the two companies, it negotiate that however they were finished without some outcome(on 23 April 2013).

In the fiscal year anniversary 2018, that it is finished 31st March, Mitsui E&S has recorded a turnover of clearly 656,5 billion yen (six billions of dollars), down of the -6,6% on the exercise precedence. The operating result has been of sign negative and pairs to -59,7 billion yen (- 5,2 billion in exercise 2017), with a contribution of sign negative for -8,1 billion yen from the shipbuilding activities of naval. The economic result clearly has been of sign negative and pairs to -62,9 billion yen respect to a loss of 5,3 billion in fiscal year 2017. If in the exercise the 2018 value of the new acquired orders from the group has recorded a bending of -38,8% coming down to the 710,1 billion one yen, in the single navalmeccanico segment it is increased of +6.3% going up to 113,1 billion yen.

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