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Mitsubishi's future lies overseas

Mitsubishi's future lies overseas

Tokyo: A delegation from dominant Japanese shipbuilder Mitsubishi Heavy Industries has been sent to scour the region to select possible areas to build new shipyards. The team is looking at sites in China, Vietnam and the Philippines. Shipbuilding in Japan is increasingly not good economic sense - wages and raw materials are simply too high and the average age of workers is in excess of 43. Kawasaki has a highly successful joint venture in Nantong, while Tsuneishi has done well in the Philippines. Other Japanese yards have traditionally been more circumspect about expanding overseas, concerned about issues such as technology transfer. [21/03/07]

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