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Mitsubishi Power Systems Americas, Inc. 100 Colonial Center Parkway, Suite 500 Lake Mary, FL 32746 MPSA PRESS CONTACT: Sonia Williams Sonia.Williams@mpshq.com 407-688-6257 MPSA CUSTOMER CONTACT: Bill Newsom Bill.Newsom@mpshq.com 407-688-6292 Mitsubishi Heavy Industries, Ltd. to Acquire Industrial Power Generation Company Pratt & Whitney Power Systems Agreement Signed with United Technologies Lake Mary, FL - December 12, 2012 – Mitsubishi Heavy Industries, Ltd. (MHI) has concluded an agreement with United Technologies Corporation (UTC) of the U.S. under which MHI will acquire Pratt & Whitney Power Systems (PWPS), the small and medium-size gas turbine business unit of Pratt & Whitney (P&W), an aeroengine manufacturer. MHI and UTC, P&W’s parent company, signed the agreement earlier this week. PWPS engages primarily in the engineering, assembly and sales of aero-derivative gas turbines and also provides gas turbine services and engineering, procurement and construction services of related power generation systems. The company has approximately 430 employees. PWPS owns a majority share of Turboden s.r.l. of Italy, a manufacturer of Organic Rankine Cycle (ORC) turbines, which will also be included as part of the acquisition. MHI, which has focused its gas turbine business principally on large-capacity, high-efficiency systems, will significantly diversify its power generation product portfolio with the acquisition of PWPS. PWPS’s aero-derivative gas turbines have been highly acclaimed, especially for emergency power generation applications, for their compact design and rapid start-up time, with over 1,700 units delivered to date worldwide. Going forward, significant growth is anticipated in applications requiring a flexible power source complementary to a renewable-energy power source. Robust market demand is also expected as small power sources for application in emerging markets. PWPS’s main products to date have been 30MW (megawatt) class machines, but currently the company is developing new 60MW class models, which are expected to boost PWPS’s market share significantly. PWPS US operations will be aligned with Mitsubishi Power Systems Americas, Inc. (MPSA), headquartered in Lake Mary, Florida. MPSA President Koji Hasegawa, stated, “The PWPS business offers tremendous synergy with our existing US operations. It significantly diversifies 1PDF Image | Mitsubishi Acquire Pratt and Whitney Power Systems
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