TOKYO -- Mitsubishi Heavy Industries will consolidate plants for fossil-fuel power equipment in Japan and the U.S. to cope with an expected drought in demand amid a broader global shift to clean energy.
With renewable energy gaining traction and environmental regulations growing stronger worldwide, Mitsubishi Heavy expects to exhaust orders for equipment such as steam or gas turbines by 2020. But instead of taking up a more drastic reorganization, the Japanese industrial equipment maker will focus on cutting costs in steps to be laid out May 8 as part of a medium-term management plan.
