Hi­tachi and MHI reach se le­ment

The Citizen (KZN) - - Business -

Ja­pan’s Hi­tachi and Mit­subishi Heavy In­dus­tries (MHI) said yes­ter­day they had reached an out-of-court set­tle­ment of their dis­pute over losses from a South Africa power plant project.

Hi­tachi will pay MHI a set­tle­ment of 200 bil­lion yen (about R26.3 bil­lion) in March and trans­fer to MHI its 35% stake in their joint ven­ture Mit­subishi Hi­tachi Power Sys­tems, the com­pa­nies said. –

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