Mitsubishi confirms talks with Vestas to expand offshore wind businesses - report

Dec 4, 2012 - Hideaki Omiya, president of Japan's Mitsubishi Heavy Industries (TYO:7011) confirmed the company has been in talks with Denmark's Vestas Wind Systems A/S (CPH:VWS) to strengthen its offshore wind power generation business, in an interview for daily Asahi Shimbun on Saturday.

The interview focused on the recent agreement between Mitsubishi Heavy and Hitachi Ltd (TYO:6501) to merge their energy-equipment businesses.

Omiya said that it is no taboo for Mitsubishi Heavy Industries to enter cooperation with other companies, provided that both Mitsubishi and its partners can expand their activities.

Omiya said his company is willing to work with foreign companies and mergers and takeovers are among the options. He named the talks with Vestas as an example for that.

Vestas unveiled in August talks with Mitsubishi regarding a potential strategic partnership. In late November, Vestas CFO Dag Andresen said the talks were centred around the development of an 8-MW offshore wind turbine. However, it is still too early to say when the discussions could be completed, Andresen told news agency Bloomberg back then.

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