mitsubishi corp (8058) Snapshot

Aditya Birla Management Corporation Pvt Ltd., Shenhua Group Corporation Limited, Coal India Limited (BSE:533278) among others have shown interest in bidding for a part of Australian coal assets of Rio Tinto Ltd. (ASX:RIO) worth $3.2 billion, the Reuters said on citing unidentified persons. Rio Tinto has agreed to sell 29% stake in its Coal & Allied business and a majority stake in the Clermont mine Queensland state, with preliminary bids due this week, one of the persons told the global news agency. Mitsubishi Corporation (TSE:8058), which holds a 20% stake in Coal & Allied and is also a co-owner in the Clermont mine along with other Japanese companies, has pre-emptive right to acquire stake put up for sale by Rio Tinto. However, Mitsubishi has said that it is not interested in increasing its natural resources investments.

Mitsubishi Heavy Industries Ltd. in collaboration with Mitsubishi Corporation has received an order from the Land Transport Authority (LTA) of Singapore, for the design, manufacture, installation and commissioning of the capacity expansion of the existing Sengkang and Punggol lines that serve new residential areas in the northeast side of Singapore. The contract is valued at JPY 12 billion and work is expected to be completed by 2016. The new order includes: supplying 16 newly manufactured cars (with each vehicle comprising 2-cars), modification of 16 of the 41 existing cars for two-car vehicle operation, and upgrading the signaling and power supply systems. As a result of the capacity expansion, the System will gain increased operational flexibility by allowing for vehicle configurations comprising either single car or two cars trains, rather than limiting the system to only single car train configurations. MHI and MC will be responsible for the design, supply, installation, testing and commissioning of the cars, signaling, and electrical systems. Modifications and upgrades to the existing systems, as well as testing and commissioning activities, will be performed during off peak hours. The Sengkang and Punggol lines were the first application of MHI's fully automated, driverless, rubber-tired "Crystal Mover" APM system for an urban transportation application outside of Japan. This repeat order is further evidence of the exceptionally high operational performance, safety, and reliability of the Crystal Mover technology.

Mitsubishi Corporation (TSE:8058) intends to acquire Los Grobo Ceagro do Brasil (Ceagro Agronegocios Ltda.) in a deal valued about $495 million, the Nikkei reported. According to the report, the consideration includes more than ¥30 billion that Mitsubishi would lend to Ceagro and over ¥10 billion to be spent on shares purchases from investors such as Grupo Los Grobo SA as early as summer. The report added that Mitsubishi will acquire 60% stake in Ceagro bringing its stake to 80% in the company.