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Business

Mitsubishi Heavy seeks four-way shipbuilding alliance

Imabari Shipbuilding's construction yard

TOKYO -- Japanese shipbuilder Mitsubishi Heavy Industries is discussing a multifaceted alliance with Imabari Shipbuilding and two other domestic rivals as a way to gain a competitive edge in the rapidly transforming global market, the company said Tuesday.

Along with Imabari, the country's largest shipbuilder in terms of tonnage, Mitsubishi Heavy is approaching third-ranked Oshima Shipbuilding and No. 4 Namura Shipbuilding as well. The four likely would partner in areas such as ship development, parts procurement and sales activities. Mitsubishi Heavy also is mulling contracting construction duties to the other three companies, with the vessels based on its designs.

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