Mitsubishi Heavy to make engine valves in China

TOKYO March 29, 2005; Japan Today reported that Mitsubishi Heavy Industries Ltd said Monday it will start producing engine valves in October in Shenyang in northeastern China's Liaoning Province through a joint venture to be launched Thursday with a Chinese automobile engine manufacturer, in a bid to cash in on the booming automobile market in the country.

The major Japanese heavy machinery maker said it will establish with Shenyang Aerospace Xinguang Group a venture named Shenyang Aerospace Xinguang Mitsubishi Heavy Industries Engine Valves Co, with capital of 82 million yuan, or approximately 1.1 billion yen. (Kyodo News)