National Jet Express (NJE), a member of the Rex Group, will shortly take delivery of another De Havilland Dash 8-400NG ‘Next Generation’, fitted with 82 seats.
This will be the ninth Dash 8-400NG to join the NJE fleet and the second to be deployed to support and grow NJE’s long term contract with BHP Mitsubishi Alliance (BMA) after starting operations for the mining giant on 1 July, 2023.
It will enter service in October and operate additional flights to the mining community of Moranbah in the Bowen Basin, 1000 kilometres north of Brisbane.
NJE is also in the advanced stages of negotiation for two further contracts in the mining and construction industries, which are expected to see Dash 8-400NG services expand across other areas of Queensland.
Tokyo, Japan – Mitsubishi Heavy Industries (OTC: MHVYF) announced that order intake rose 75.1% year over year to 1.6 billion Yen in the quarter ended June 30, 2023. Revenue rose 12.9%, resulting in profit from business activities (business profit) of 51.9 billion Yen, a 248.1% increase from the previous fiscal year, which represents a profit margin of 5.3%. Profit attributable to owners of parent (net income) was 53.1 billion Yen, an increase of 177.1% year-over-year, with a profit margin of 5.4%. EBITDA was 85.1 billion Yen, an 80.3% increase from Q1 FY2022, with an EBITDA margin of 8.7%, up 3.3 percentage points year-over-year.
Large orders growth in Energy Systems was driven by Gas Turbine Combined Cycle (GTCC), which continues to see strong demand for both new builds and after-sales services. Business profit in the segment increased by 27.0 billion Yen due to a reduction in one-time charges in the Thermal Power businesses as well as revenue growth and improved project margins.
In Plants & Infrastructure Systems, revenue increased by 33.8 billion Yen due to contributions from Metals Machinery and Engineering, while business profit improved by 5.0 billion resulting from increased revenue in Metals Machinery as well as positive developments in Engineering and Machinery Systems’ project mix.
In Logistics, Thermal & Drive Systems, successful passthrough of cost inflation to sales prices mainly in Logistics Systems and Heating, Ventilation & Air Conditioning (HVAC) led to 14.3% increases in order intake and revenue, respectively. Cost passthroughs in these businesses also helped to raise the segment’s business profit by 15.3 billion Yen.
Most notable this quarter is the striking growth in Aircraft, Defense & Space order intake, specifically in Defense & Space, which saw orders rise by 584.1 billion Yen. This is due to large orders for missile defense systems from Japan’s Ministry of Defense as the country seeks to improve its capabilities in this area.
National Jet Express (NJE), a Rex Group company, has today firmed up its bold ambition to expand its footprint in the Queensland charter and mining market. NJE today took passengers to the skies for the first time in Queensland, with flight NC344 departing Brisbane at 0700 local time for Moranbah. This comes after NJE was successful in winning a contract to provide air services for BHP Mitsubishi Alliance (BMA).
Tokyo, Japan, August 6th, 2021 – Mitsubishi Shipbuilding Co., Ltd., a part of Mitsubishi Heavy Industries (MHI) Group, has concluded a technical cooperation agreement with Namura Shipbuilding Co., Ltd. relating to LPG (Liquefied Petroleum Gas) powered very large gas carriers (VLGC’s) and are capable of transporting both LPG and ammonia. Based on this agreement, Namura Shipbuilding will construct a LPG powered VLGC on order from MOL Group.
Mitsubishi Shipbuilding has developed an all-new type of VLGC applying its knowledge and expertise accumulated through the construction and delivery of more than 80 VLGC’s and midsized LPG/ammonia carriers. Operating performance has been improved by increasing the holding capacity of the cargo tank, while engineering enhancements have resulted in improved fuel efficiency. In addition, Mitsubishi Shipbuilding has applied its technologies in gas handling to develop a new system capable of using LPG in the cargo hold as fuel to propel the ship. This ability to secure LPG fuel from the cargo tank has a benefit that adds flexibility for the LPG terminal compatibility. Furthermore, the newly developed VLGC features largest-scale at present among all ships capable of carrying ammonia, a point of advantage amid anticipated expansion of demand for large-scale ammonia transportation, which emits zero CO2during combustion.
MHI originally concluded a basic agreement with Namura Shipbuilding in 2017 to form a business alliance in commercial ships. Under the newly concluded technical cooperation agreement, Mitsubishi Shipbuilding will not only provide Namura Shipbuilding with technical designs but also procure some equipment and support construction. In this way, Mitsubishi Shipbuilding will provide comprehensive engineering services to support Namura Shipbuilding’s successful construction of the large LPG/ammonia carrier for MOL Group.
Going forward, Mitsubishi Shipbuilding will provide shipbuilding technologies in response to all customer needs as a marine engineering firm handling new ship constructions as well as ships already in service, making no distinctions between vessels constructed in-house and those made by other shipbuilders. In these ways the Company will make ongoing contributions to the development of maritime logistics and also help reduce environmental impact, a critical issue of global scale.
Mitsubishi Heavy Industries Machine Tool Co., Ltd., a group company of Mitsubishi Heavy Industries, Ltd. (MHI) based in Ritto, Shiga Prefecture, will offer expanded services in metal 3D printing services commencing on July 15, including prototype production and contract production by metal 3D (three-dimensional) printers applying laser-based Metal Additive Manufacturing (AM) technologies. In addition to its previously offered Directed Energy Deposition (DED) type metal 3D printers for large-scale parts, the Company will newly add services using binder jetting (BJT) metal 3D printers for small-scale parts. The expanded service lineup will enable manufacture of a full range of metal parts, from small components of 1mm size to ultra-large-scale parts exceeding 1 meter.
The addition to MHI Machine Tool’s lineup is the DMP2500 metal 3D printer developed by Digital Metal, a group company of Hogänäs of Sweden. The DMP2500’s BJT technology not only enables extremely precise manufacturing but also is engineered especially for high-volume production. Currently, MHI Machine Tool has provided metal printing services applying unique DED technology of “LAMDA” AM systems; now, with the introduction of a different type of printer, the Company can respond to a broad range of metal 3D print needs and propose and provide the optimal manufacturing method and equipment for each parts.
MHI Machine Tool concluded a contract with Digital Metal in July 2020 on marketing its DMP2500 and other metal 3D printers in Japan. By adding these BJT type systems to its own sales lineup, MHI Machine Tool will be in a position to offer a broad portfolio of not only sales but also after-sales services.
While metal 3D printers are receiving attention for their innovative advances to production processes, they also present challenges relating to the difficulty of their production and quality assurance, etc. With the new expansion of services, MHI Machine Tool will focus on providing solutions relating to additive manufacturing, including provision of related expertise, to accelerate early adaptation to production parts.
Going forward, MHI Machine Tool will develop its metal printing services structure spanning from small-scale high-precision to ultra-large-scale items, enabling the Company to respond to a broad wide-range of prototype production needs and contract production. In these ways, MHI Machine Tool will encourage manufacturers to expand into manufacturing parts using metal 3D printers and contribute to the industrial supply chain as a whole.
TOKYO (Reuters) – Japan’s Mitsubishi Heavy Industries said on Thursday it will book a 496.4 billion yen ($4.5 billion) special loss after its aircraft unit delayed the delivery of its SpaceJet regional jet for at least another year until after March 2021.
The sixth delay announced by Mitsubishi Aircraft is a fresh blow to Japan’s commercial jet ambitions and could stretch Mitsubishi Heavy Industries’ finances.
The company cited the special loss as one reason for wiping out a forecast for operating profit of 220 billion yen in the business year ending March 31.
The new postponement also means an aircraft that Mitsubishi Heavy had planned to bring to market in 2013, will have to compete against a new generation of regional jets built by Brazil’s Embraer SA <ERJ>.
Japan’s biggest airline by revenue, ANA Holdings Inc., is now to take the first delivery of the jet sometime after March 2021.
Mitsubishi Heavy, which builds products ranging from nuclear reactors and ships to rockets and industrial machinery, has traditionally relied on stronger units to support weaker businesses.
“We use cashflow and borrowing to finance our projects and going forward the SpaceJet development will require further funds,” a spokesman for Mitsubishi Heavy said. The company, he added, had no plan at the moment to raise capital for aircraft development.
Government funding would not be an option for Japan’s biggest heavy machinery maker even though the SpaceJet is backed by the government because doing so would contravene World Trade Organization (WTO) rules banning taxpayer subsidies.
A spokeswoman for Mitsubishi Aircraft declined to say how much development of the SpaceJet has cost so far.
The company on Thursday said it had appointed Takaoki Niwa, the head of its U.S. operations, as its new president, replacing Hisakazu Mizutani, who will become chairman.
(Reporting by Tim Kelly; Editing by Kim Coghill and Christopher Cushing)
DETROIT — A battery-powered Lincoln SUV, due in mid-2022, will be the first Ford Motor Co. vehicle built on a custom electrified chassis that resembles a skateboard, which was developed by Ford-backed startup Rivian, according to several people familiar with the program.
The all-wheel-drive Lincoln SUV could compete against Rivian’s R1S, an electric sport utility vehicle slated to go into production in early 2021 that will be priced from $72,500. Both models will use Rivian’s so-called skateboard, a flexible platform that combines electric motors, batteries, controls and suspension.
On Tuesday, Ford declined to comment. Rivian did not respond to a request for comment.
The new Lincoln, which carries the internal program code U787, also could compete with premium offerings from others, including General Motors Co, which plans to introduce at least two new electric SUVs by 2023, one for Cadillac and one that could revive the Hummer name, sources have said.
Ford invested $500 million in Rivian this year and plans to help it begin production next year at a former Mitsubishi plant in Normal, Illinois.
When Ford made the investment, it said it would use Rivian’s skateboard to develop its own electric vehicle, but did not disclose details.
It is not clear where Ford intends to build the Lincoln SUV, which will be among the first of several battery-powered utility vehicles planned for Ford’s premium brand in North America and China, according to supplier sources familiar with those programs who asked not to be identified.
Ford expects to introduce a compact Lincoln electric crossover in late 2021 or early 2022 and a mid-size companion in 2023, the sources said.
The U.S. auto industry plans to invest billions of dollars over the next few years to build all-electric pickups and SUVs, sectors of the market that have been among the most profitable, especially for Detroit-based automakers.
But analysts have questioned whether demand from consumers and commercial customers will come close to matching production.
Founded in 2009, Rivian has raised $1.9 billion from investors, including e-commerce giant Amazon, which has ordered 100,000 electric delivery vehicles from Rivian. The first Amazon vans will be built in Normal and are to be delivered in 2021.
Ford aims to sell an electric F-series pickup in late 2021, sources have said. It also will offer the electric Mustang Mach E SUV next year as part of plans to invest $11.5 billion by 2022 electrifying its vehicles.
NEW YORK (Reuters) – Mitsubishi Heavy Industries Ltd <MHVYF> is confident that it has the technical and production know-how to build high-tech wings for Airbus SE <EADSY> jetliners, the chief executive of the Japanese conglomerate said on Wednesday.
MHI developed sophisticated production processes at its facility in Nagoya in the process of building wings for the Boeing Co <BA> 787 Dreamliner, Chief Executive Seiji Izumisawa said in an interview.
“We have accumulated expertise in producing aerostructures as a tier 1 supplier, so if the opportunity does present itself we will certainly be willing to consider it,” he said.
It is not yet clear whether Airbus plans to outsource wings on future jets, such as its next-generation single-aisle aircraft, which could come out in about a decade.
Such future work would be important to MHI in part because of Boeing’s decision to bring wing production back in-house on its latest jet, the 777X.
“We do have the capability to produce some pretty complicated components,” said Izumisawa, who said he was involved in developing the 787 wings.
(Reporting by Alwyn Scott; Editing by Sonya Hepinstall)
FILE PHOTO: The logo of Mitsubishi Heavy Industries is seen at the company’s Sagamihara plant in Sagamihara, Japan
DETROIT, Sept 19 (Reuters) – Electric vehicle startup Rivian Automotive LLC got a big boost from one of its investors on Thursday when Amazon.com announced it was ordering 100,000 electric delivery vans.
Before Rivian has even begun commercial production at its factory in Normal, Illinois, the Amazon order rocketed it to the forefront of electric vehicle makers.
Amazon Chief Executive Jeff Bezos said in Washington that as part of the online retailer’s plan to be carbon neutral by 2040 it would order the electric vans from Rivian, with deliveries starting in 2021. The goal is to deploy all the vehicles by 2024.
Rivian, a potential rival to Silicon Valley’s Tesla Inc, unveiled its electric R1T pickup and R1S SUV last November, but had piqued Amazon’s interest earlier. Bezos personally reached out to Rivian CEO R.J. Scaringe last summer to express interest in an investment, sources previously said.
Plymouth, Michigan-based Rivian, founded in 2009, has raised close to $1.9 billion from investors, including a $700 million February round led by Amazon.
The deal solidifies Rivian’s place among EV builders, said Sam Fiorani, a vice president with Auto Forecast Solutions. “It helps boost the image of the (Rivian) brand,” he said.
Rivian aspires to be the first to produce a mass market electric pickup. It intends to begin selling its R1T by the end of 2020, a target that has not changed with the Amazon deal in place, said Rivian spokeswoman Amy Mast said.
Traditional U.S. automakers Ford Motor Co, a Rivian investor, and General Motors Co, as well as Tesla, are pushing to develop their own electric pickups.
The Amazon vans, under the exclusive deal, will be built at Rivian’s plant, a former Mitsubishi factory in Normal, Illinois, Mast said. The first vehicles will be delivered in 2021 and 10,000 should be on the road by late 2022, she said. The vehicles will be serviced by Rivian.
Scaringe has described the Rivian vehicle’s platform as a skateboard that packages the drive units, battery pack, suspension system, brakes and cooling system all below wheel height to allow for more storage space and greater stability due to a lower center of gravity.
Amazon is looking to speed packages to shoppers’ doorsteps regardless of spikes in consumer demand or shortages of delivery personnel. Last year, Daimler AG’s Mercedes-Benz said Amazon had become the biggest customer of its Sprinter vans, securing 20,000 vehicles for delivery contractors.
Ford invested $500 million in Rivian in April with plans to use the Rivian EV platform to build a new vehicle in North America. Details of that vehicle were not disclosed. Ford is not involved in the Rivian deal, Mast said.
Cox Automotive Inc, the owner of the Autotrader online automobile market and the Kelley Blue Book car valuation service, invested $350 million in Rivian this month. The companies will explore partnerships in digital retailing, service operations and logistics.
Other backers include Saudi auto distributor Abdul Latif Jameel Co, Sumitomo Corp of Americas and Standard Chartered Bank.
Amazon’s reputation and the contract size would raise Rivian’s status with potential customers and investors, Fiorani said. It also offers the advantage of not having to chase buyers or ship vehicles all over the country.
(Reporting by Ben Klayman in Detroit; Editing by David Gregorio)
(Reuters) – Mitsubishi Aircraft Corp and Mesa Airlines Inc, a regional airline operator, entered into a memorandum of understanding to begin talks on purchase of 100 SpaceJet M100 aircraft.
The aircraft is a revamped version of Mitsubishi’s smaller jet MRJ70, designed to carry 65 to 88 people.
Under the MOU, the companies target 50 firm orders and purchase rights for an additional 50 planes.
The deliveries to the unit of Mesa Air Group <MESA> would begin in 2024, Mitsubishi said in a statement.
(Reporting by Soundarya J in Bengaluru; Editing by Shailesh Kuber)
