MITSUBISHI BOOSTS ITS STAKE IN PRESS MAKER

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WOOD DALE, ILL. — The company that manufactures Mitsubishi injection molding machines in Japan — Mitsubishi Heavy Industries Ltd. — is now the majority owner of the firm selling them in North America.

Mitsubishi Heavy Industries, known as MHI, has joined with Mitsubishi Corp. to establish a new company, MHI Injection Molding Machinery Inc. (MIMM), in Wood Dale. MIMM will use the same offices and staff as its predecessor, MC Machinery Systems Inc.

Mitsubishi Heavy Industries and Mitsubishi Corp. are two of the flagship companies in Japan's giant Mitsubishi industrial group. Both companies are based in Tokyo.

In Wood Dale, Mitsubishi Corp. had owned 80 percent of MC Machinery Systems. The remaining 20 percent was owned by New York-based Mitsubishi International Corp.

Mitsubishi Heavy Industries, which manufactures the machines, now owns 65 percent of MIMM. Mitsubishi Corp. owns 35 percent.

MHI said it has decided to conduct its own U.S. marketing activities and establish direct contact with customers.

In personnel news, Tokuichi Komiya has been named president of MIMM. He was assistant general manager of MHI's industries machinery international operations.

Minoru Shibata remains executive vice president.