TOKYO - Mitsubishi Heavy Industries (MHI) announced that it has completed its acquisition of Pratt & Whitney Power Systems, the small and medium-size gas turbine business unit of Pratt & Whitney (P&W), an aeroengine manufacturer. Pratt & Whitney Power Systems has changed its corporate name to PW Power Systems (PWPS) and is now an MHI group company.
The acquisition was completed in accordance with the agreement reached last December between MHI and United Technologies Corporation (UTC) of the U.S., P&W's parent company. As part of the acquisition, MHI also acquired Turboden of Italy, a manufacturer of Organic Rankine Cycle (ORC) turbines and an affiliate of PWPS. With the addition of PWPS and Turboden, together with the planned business integration with Hitachi in the area of thermal power generation systems scheduled for January 2014, MHI said it will be able to provide a wider range of products and services for thermal power generation systems.
PWPS manufactures and services aeroderivative gas turbines, and engages in the engineering, procurement and construction of related power generation systems. The company has approximately 430 employees.
MHI has traditionally focused its gas turbine business on large-capacity, high-efficiency systems. With the addition of PWPS' small and medium-size aeroderivative engines, MHI has expanded its power generation product portfolio and is able to offer customers a full product lineup.
According to MHI, PWPS' aeroderivative gas turbines are highly acclaimed, especially for their emergency power generation applications, compact design, and rapid start-up time. More than 1,700 aeroderivative turbines have been delivered worldwide. Significant growth is anticipated in applications that require a flexible power source complementary to a renewable-energy power source. Robust market demand is also expected as small power sources for applications in emerging markets, MHI said. PWPS' main product has been the 30-MW (megawatt) class machine. The company is developing an innovative 60-MW class model, which is expected to significantly boost PWPS' market share.
Source: http://www.mhi.co.jp/en/news/story/1305201662.html
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