OR WAIT null SECS
Mitsubishi Heavy Industries, Ltd. (MHI) recently announced the completion of its acquisition of Pratt & Whitney Power Systems (PWPS). The acquired company will now be known as PW Power Systems and will be a core asset for a recognized global leader in the power generation industry. PW Power Systems will be headquartered in Glastonbury, Connecticut.
As a part of MHI's continuing growth initiative, the acquisition will enable the company that focuses on large capacity systems to reach a broader range of customers through PW Power Systems, which offers small to medium sized power generation packages.
MHI's resources and operations will also provide the essential synergy to allow PW Power Systems to grow with the increasing demand for flexible generation solutions. PW Power Systems customers will continue to benefit from Pratt & Whitney technology, with turbine engines as well as the company's manufacturing, engineering and supply chain expertise.
MHI's president, Shunichi Miyanaga said, "The synergistic effect of combining the talent and resources of MHI and PW Power Systems will lead to the significant growth of 'Energy & Environmental', one of MHI's four core corporate sectors, and also increase MHI's competitiveness in the worldwide power generation market."
Peter Christman, president of PW Power Systems said aligning with MHI will be a significant strategic benefit, expanding the company’s market reach and opening up new opportunities for PW Power Systems.