MHI-MME Marks the 10th Anniversary of Steering Gear Licensing Agreement with Jiangsu Masada Heavy Industries Co, Ltd.
Mitsubishi Heavy Industries Marine Machinery and Equipment Co., Ltd (MHI-MME) marked the 10th anniversary of steering gear license agreement with Jiangsu Masada Heavy Industries Co., Ltd. (Jiangsu Masada).
A commemoration event, with concerned parties from Jiangsu Masada and officials from the Nantong municipal government present on a remote basis, was held in celebration of this 10th anniversary.
Jiangsu Masada is a manufacturer of marine machinery, such as steering gears, deck cranes, and deck machineries. The company was founded in 2005 in Nantong city, Jiangsu province, China.
MHI-MME concluded a license agreement for Rapson slide type steering gear in February 2012. Jiangsu Masada has an especially high sales record to state owned shipbuilders, such as the CSSC Group’s Chengxi Shipyard and Huangpu Wenchong Shipbuilding, and the China COSCO Shipping Group’s COSCO Shipping Heavy Industry (Yangzhou), as well as to leading private shipbuilders in Jiangsu province, including Jiangsu Hantong Ship Heavy Industry, Yangzijiang Shipbuilding, New Times Shipbuilding, and Nantong Xiangu Shipbuilding. Production of steering gear through this license agreement have exceeded a total of 460 units to date.
What is more, the annual production of steering gears under this license agreement in recent years has been around 50 units, but with the recovery in new shipbuilding market in China and Jiangsu Masada’s steady receipt of orders, we expect to see more than 140 units produced in 2022. This will be a year of a big leap forward in sales.
Going forward, MHI-MME will keep developing its good relationship with Jiangsu Masada, and continue to move forward while continuing to cooperate to enable the provision of even better products and services.
Source: Mitsubishi Heavy Industries Marine Machinery & Equipment Co, Ltd.