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Friday January 25, 2013
TOKYO: Toshiba Corp and General Electric Co will enter a global strategic alliance to develop and sell fossilfuel power equipment and consider a joint venture in the business, the firms said.
The deal comes after domestic rivals Mitsubishi Heavy Industries and Hitachi Ltd said they would combine their thermal power businesses in November due to increased competition from the likes of Siemens and GE.
Under the memorandum of understanding signed on Thursday, Toshiba and GE said they will “...explore the formation of a strategic joint venture for the development of nextgeneration combinedcycle power projects with higher levels of thermal efficiency.” - Reuters
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