Mitsubishi Heavy Industries Machine Tool Co., Ltd. (hereinafter referred to as "MAT"), a Group company of Mitsubishi Heavy Industries, Ltd. (MHI), and Fuji Oozx Inc. have recently agreed to integrate their automobile engine valve businesses.

In addition to integrating its hollow-head valve production facilities into the joint venture company, MAT will also transfer its solid valve business to Fuji Oozx. Through the integration of their businesses, the two companies aim to strengthen product diversification and expand business scale.

The new company, tentatively named "Fuji Hollow Valves, Inc.", will be established in February as a wholly-owned subsidiary of Fuji Oozx, and later succeed both MAT's hollow-head valve business and Fuji Oozx's hollow-stem valve business. After the business transfer, MAT and Fuji Oozx will own 31.9% and 68.1% of the new company's shares, respectively. Toru Suzuki, Director of Fuji Oozx, will serve as president of the new company.

The joint venture will further develop hollow engine valve technologies and knowhow accumulated by the two parent companies, and will manufacture both hollow-head and hollow-stem valves. Marketing activities, including order-taking and sales, will be handled by Fuji Oozx.

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