MHI transfers marine engines to Seika

The operations concerned mainly target fishing vessels and the deal is part of a broader company restructuring. Seika is a trading firm with a solid reputation for mobility and stability in the fisheries and marine business areas as well as a dynamic strategy for further business expansion.

The domestic marine engine sales and parts servicing operations primarily focus on engines and auxiliary equipment for fishing vessels with gross tonnage under 20 tonnes. MHIES conducts its operations from 20 domestic bases, and under the new agreement all bases, except those engaging in export operations, will be transferred to Seika. Prior to the transfer, MHIES will spin off the affected operations under an absorption-type split arrangement.

The resulting new company, to be located in Tokyo, will be transferred to Seika on 1 October.