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MHPS changing name as Mitsubishi, Hitachi part ways in joint venture

Mitsubishi Hitachi Power Systems will change its name soon after joint venture partner Hitachi exited the business.

MHPS, which is part of Mitsubishi Heavy Industries, will be renamed Mitsubishi Power and will have a new corporate brand logo. Hitachi had owned part of the joint venture since it was created in 2014.

The logo will hold to the Mitsubishi tradition of the three diamonds. This originates back to the pre-Mitsubishi shipping company Tsukumo Shokai, founded by Yataro Iwasaki.

The company has been planning to change its name following the transfer of all stock held by Hitachi, Ltd. to Mitsubishi Heavy Industries, Ltd. Mitsubishi Power will begin operating under the new name once it receives approvals from antitrust authorities in several countries, and necessary procedures for the stock transfer have been completed.

Hitachi, meanwhile, is strengthening its power grid portfolio with the acquisition of ABB’s power grids division announced last year. The ABB business will eventually be known as Hitachi, according to reports.