Turbine company MHPS announces new company name Mitsubishi Power
Mitsubishi Hitachi Power Systems changes name to Mitsubishi Power following the exit of Hitachi from the joint venture announced late in 2019.
Late last year, Hitachi announced its exit from Mitsubishi Hitachi Power Systems, Ltd. (MHPS), a joint venture established in 2014. Hitachi has since transferred its 35% stake in MHPS to Mitsubishi Heavy Industries (MHI) Group.
Today, Mitsubishi Hitachi Power Systems, Ltd. (MHPS), a part of Mitsubishi Heavy Industries (MHI) Group, announced its new company name, Mitsubishi Power, and will also adopt a new corporate brand logo. Under its new name, Mitsubishi Power will work to enhance its reputation around the world as one of the companies enabling the decarbonization of electric power.
Mitsubishi Power, as one of the core subsidiaries of MHI Group, offers cutting-edge technologies and energy solutions for the power industry, supporting affordable and reliable power supplies in regions throughout the world. Further, by providing new technologies to reduce and eliminate CO2 emissions at the point of power generation and storage, Mitsubishi Power is a key participant in creating a decarbonized economy and helping to resolve the challenges facing the global society.
New Company Name: Mitsubishi Power, Ltd.
Corporate Brand Logo
The new brand logo combines the three diamonds figurative mark of Mitsubishi with the English company name. The logo font, a roundish, modern design in a gothic typeface, was adopted to present an image of the advanced, environment-friendly power generation technologies that Mitsubishi Power seeks to offer, while at the same time expresses a corporate stance of responding flexibly to society changes.
The company has been planning to change its name following the transfer of all stock held by Hitachi, Ltd. to Mitsubishi Heavy Industries, Ltd. Mitsubishi Power will begin operating under the new name once it receives approvals from antitrust authorities in several countries, and necessary procedures for the stock transfer have been completed.
Please visit https://www.mhps.com/news/pdf/20200424.pdf
Source: Company release via Canada.com, announcement of split December 2019