Mitsubishi Hitachi Power Systems, Ltd. (MHPS), a thermal power generation systems company jointly established by Mitsubishi Heavy Industries and Hitachi has announced its formal launch and start of business operations

The new venture combines the global fossil businesses of both companies. It launched on 1 February 2014.

In a merger first flagged up in November 2012, the two firms have transferred their respective global thermal power generation operations to the new joint venture, MHPS. MHI holds a 65% equity interest and Hitachi holds 35% in the merged company.

The new joint venture’s aim is to ‘bring its technological products to broader markets rapidly and cost effectively, and with greater project execution and service support.’ The merger, says MHPS, will deliver an expanded, broader portfolio of power generation products and solutions.

The collective presence and product lines in the Americas will be expanded, and the new company in the Americas will be named Mitsubishi Hitachi Power Systems Americas, Inc. It will include the operations formerly known as Mitsubishi Power Systems Americas, Inc headquartered in Lake Mary, Florida; Hitachi Power Systems America, Ltd which will be renamed Mitsubishi Hitachi Power Systems America – Energy and Environment Ltd located in Basking Ridge, New Jersey; Mechanical Dynamics & Analysis, Ltd based in Latham, New York; Hitachi Power Systems Canada Ltd., renamed as Mitsubishi Hitachi Power Systems Canada Ltd., and a minority interest in Advatech, LLC.

Also included will be entities across the western hemisphere located in Canada, Puerto Rico, Mexico and Venezuela.