Tokyo: Mitsubishi Heavy Industries, Ltd. (MHI) and Doosan Engine Co., Ltd. of Korea have signed an agreement under which MHI will license manufacturing and marketing of its MET Turbocharger, a supercharger for marine diesel engines, to the Korean firm. By establishing a collaborative relationship with Doosan Engine, MHI aims for further penetration of the MET Turbocharger in Korea, the world leader in diesel engine production. Doosan Engine is expected to complete production of the first unit of the MET-Turbocharger in 2011.
Under the agreement, which grants non-exclusive licensing rights within Korean territory, Doosan Engine will manufacture and market the turbocharger to local companies. It will also supply units intra-company for use as a standard specification in its lineup of engines.
Doosan Engine is a core company of the Doosan Group, one of Korea's largest heavy machinery manufacturers. Currently Doosan Engine ranks second globally in diesel engine production volume in terms of horsepower. In 2009 the company's revenue was 1,772.6 billion Korean won. The company employs a staff of about 1,300.
The agreement with Doosan Engine represents the second licensing of MET Turbocharger technology to Korea; previously, MHI licensed the technology to Hyundai Heavy Industries, the world's largest diesel engine manufacturer. Now, with licensing to the two companies, the MET Turbocharger will be supplied by the world's top two companies for both internal lineup integration and outside marketing. [26/10/10]
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