Mitsubishi Heavy: Bought 4.6% Stake In TBK
The Tokyo-based heavy machinery maker said it bought 1.341 million of TBK's outstanding shares for Y241 million, or about Y180 per share.
The company expects demand for turbochargers will increase partly because of stricter gas emission regulations. A closer relationship with TBK will help Mitsubishi Heavy secure stable procurement of parts for turbochargers, which improve the efficiency of automobile engines.
In addition, Mitsubishi Heavy will buy a 2.5% stake in TBK's subsidiary in Thailand for Y75 million.
Earlier this year, Mitsubishi Heavy announced a plan to spend Y40 billion to boost production capacity for small turbochargers, lifting annual output to 6.90 million units by the end of March 2012, nearly double the estimated volume of 3.6 million for the year ended March.
-By Hiroyuki Kachi, Dow Jones Newswires, 813-5255-2929, hiroyuki.kachi@dowjones.com
Click here to go to Dow Jones NewsPlus, a web front page of today's most important business and market news, analysis and commentary: http://www.djnewsplus.com/al?rnd=cyyj%2Fj9l%2Faz7taM%2FBIG0ZQ%3D%3D. You can use this link on the day this article is published and the following day.
(END) Dow Jones Newswires
December 01, 2008 02:48 ET (07:48 GMT)
Publié le 01 Décembre 2008 Copyright © 2008 Dowjones
Partager sur:
