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Mitsubishi: New printing and paper converting machinery company announced

Press release from the issuing company

LINCOLNSHIRE, Ill. - MLP U.S.A. Inc., a subsidiary of Mitsubishi Heavy Industries, Ltd. (MHI), announced today that its parent corporation plans to establish a new company dedicated to advancing MHI's printing and paper converting machinery business, effective July 1, 2010.

The new company will streamline Tokyo-based MHI's existing operations related to the manufacture, marketing and support of printing and paper converting machinery. The resulting flexible business structure will enable MHI to successfully compete with other enterprises specializing in this segment of industry.

The new wholly owned subsidiary will be formed by the merger of the MHI Paper & Printing Machinery Division and Printing & Paper Converting Machinery Sales Co., Ltd. New Mitsubishi printing presses sold in North America, Central America and Mexico by MLP U.S.A. all originate within the Paper & Printing Machinery Division. MHI will integrate the division's manufacturing operations into the sales and service apparatus of Printing & Paper Converting Machinery Sales Co.

The new company will handle all business activities associated with Mitsubishi sheetfed, commercial web and newspaper presses, as well as paper converting and box making machinery. It will be responsible for design, manufacture, procurement, marketing, quality assurance and  after-sales service.

The Paper & Printing Machinery Division, located in Mihara, Japan, has been a leading suppler of printing-related technology for the printing and packaging industries worldwide.

MHI saw the dramatic changes in the global economic climate as an opportunity to implement even more dynamic strategies for product development and localized marketing. By dedicating resources to this area of business, the new company will be able to respond precisely to today's diversified customer need and expand the Mitsubishi brand in emerging markets.