Mitsubishi Heavy : French president to meet Siemens, Mitsubishi heads on Tuesday
June 16, 2014 at 10:27 am EDT
Share
PARIS (Reuters) - French President Francois Hollande will meet with the heads of Germany's Siemens (>> Siemens AG) and Japan's Mitsubishi Heavy Industries (MHI) (>> Mitsubishi Heavy Industries, Ltd.) on Tuesday morning, the president's office said in a statement on Monday.
PARIS (Reuters) - French President Francois Hollande will meet with the heads of Germany's Siemens (>> Siemens AG) and Japan's Mitsubishi Heavy Industries (MHI) (>> Mitsubishi Heavy Industries, Ltd.) on Tuesday morning, the president's office said in a statement on Monday.
The meeting with Joe Kaeser and Shunichi Miyanaga is due to take place at 0825 GMT, according to the statement.
The two companies are expected to present a joint offer to France's Alstom (>> ALSTOM) in Paris on Monday, according to sources close to the bidders, challenging a General Electric (>> General Electric Company) bid that sparked French government concern about retaining jobs and industry expertise.
(Reporting by James Regan; Editing by Natalie Huet)
Mitsubishi Heavy Industries, Ltd. is a diversified group organized around 4 business segments:
- manufacturing of systems and components for energy production units (42.6% of net sales): offshore wind turbines, pumps, turbochargers, reactors, compressors, aero-engines, gas turbines, nuclear power generators, etc.;
- shipbuilding and industrial construction (41.1%): construction of ships, land transport systems, machinery and industrial installations, environmental systems (industrial wastewater treatment systems, air pollution control units, marine pollution prevention systems, waste incinerators, etc.), handling equipment, machine tools, air conditioning and refrigeration systems, toll systems, etc.;
- construction of avionics, defence and aerospace systems (15.7%);
- other (0.3%).
Net sales are distributed geographically as follows: Japan (48.9%), Asia (17.4%), the United States (14.8%), Europe (9.4%), Middle East (2.9%), Central and South America (2.8%), Africa (1.3%) and other (2.5%).
MITSUBISHI HEAVY INDUSTRIES, LTD. 
