Key Developments: Hitachi Zosen Corp (7004.T)
11 Dec 2013
Latest Key Developments (Source: Significant Developments)
Hitachi Zosen Corp announced that it has decided to issue a JPY 10 billion 22th series unsecured bond, each with a face value of JPY 100 million, interest rate of 0.91% per annum, maturity date of September 18, 2015. The subscription date is September 14, 2012 and the payment date is September 21, 2012. Mitsubishi UFJ Morgan Stanley Securities Co., Ltd. will serve as the leading underwriter. Full Article
TOSHIBA CORP, Hitachi Zosen Corp, Sumitomo Electric Industries Ltd, Toa Corp, Toyo Construction Co Ltd Others To Invest $1.53 Billon On Wind Power-Reuters
Reuters reported that TOSHIBA CORP, Hitachi Zosen Corp, JFE Steel Corp and three other companies plan to invest JPY120 billion ($1.53 billion) over a decade to set up offshore wind turbines, the Nikkei reported. Potential sites for the project, which will have a production capacity of 300,000 kilowatts, include areas off the coast of the Kyushu region in southern Japan. Sumitomo Electric Industries Ltd, Toa Corp and Toyo Construction Co Ltd are the other companies, the Japanese business daily said. Funds will be raised through a special-purpose company and project financing. Full Article
IHI Corporation and JFE Holdings, Inc. Announces Agreement Signing on Business Integration of Universal Shipbuilding Corporation and IHI Marine United Inc.
IHI Corporation and JFE Holdings, Inc. announced that it has reached a final agreement on the business integration between IHI Marine United Inc., which is a wholly owned subsidiary of IHI Corporation, and Universal Shipbuilding Corporation, which is 84.93% owned by JFE Holdings, Inc. and 15.07% owned by Hitachi Zosen Corporation, effective October 1, 2012. In the business integration, Universal Shipbuilding Corporation will be the surviving company and will change its name into Japan Marine United Corporation. IHI Corporation, JFE Holdings, Inc. and Hitachi Zosen Corporation will hold a 45.93%, 45.93% and 8.15% stake in the new company, respectively. Full Article
Rating and Investment Information, Inc. (R&I) announced that it has affirmed the rating on Hitachi Zosen Corporation at "BBB". The rating outlook is stable. Full Article
JFE Holdings, Inc. Announces Joint Venture Name in the Business Integration of JFE Holdings, Inc., IHI Corporation and Hitachi Zosen Corporation
JFE Holdings, Inc. announced that the joint venture's name was decided as Japan Marine United Corporation. The original news was disclosed on January 30, 2012. IHI Corporation, JFE Holdings, Inc. and Hitachi Zosen Corporation holds a 45.93%, 45.93% and 8.15% stake in joint venture, respectively. Full Article
IHI Corporation Announces Business Integration of Universal Shipbuilding Corporation and IHI Marine United Inc.
IHI Corporation announced that there will be a business integration between its wholly owned subsidiary, IHI Marine United Inc. and Universal Shipbuilding Corporation, which is 84.93%-owned by JFE Holdings, Inc. and 15.07% owned by Hitachi Zosen Corporation, effective October 1, 2012. Full Article
Isgec Heavy Engineering Ltd Announces Setting Up Of Joint Venture Company With Hitachi Zosen Corporation, Japan
Isgec Heavy Engineering Ltd announced that the Company is proposing to set up a Joint Venture Company along with Hitachi Zosen Corporation, Japan, and the discussions are underway. The shareholding pattern is likely to be 51:49 between the Company and Hitachi Zosen Corporation. The Joint Venture Company will use the manufacturing facilities owned by the Company at Dahej to manufacture large capacity Pressure Vessels. Full Article