Japan-based Mitsui E&S Shipbuilding has signed a business cooperation agreement with Tsuneishi Shipbuilding to focus on the commercial ship business.
The agreement is based on an announcement made by the companies in February on the relevant cooperation.
With the new deal, the signatories aim to continuously grow their shipbuilding business by collaborating in various fields, including design and development capacity.
The deal will eventually enable Mitsui E&S Shipbuilding and Tsuneishi to secure more orders, as well as maintain their respective independence in management.
The agreement comprises six primary objectives, one of them includes joint research and development, under which the two companies will explore collaborations in the fields of current and future technologies.
With this objective, the companies will be able to develop new technologies and increase their respective positions in the global market.
The second objective involves technical partnership in design and manufacturing.
By sharing technology and personnel in the field of design, the two companies will be able to increase their opportunities to secure orders, as well as reduce design periods and increase their product lineups.
Under the latest deal, Mitsui E&S Shipbuilding and Tsuneishi also aim to form mutual cooperation in procurement activities.
By jointly using their distribution channels and suppliers, the companies expect to achieve more effective procurement.
The agreement will enable the companies to jointly use their manufacturing facilities situated in Japan and abroad.
The partners can share their facilities to outsource shipbuilding and other works such as building the ship’s hull block.
Both Mitsui E&S Shipbuilding and Tsuneishi will also be able to train and develop their human resources by engaging in personnel exchanges, in addition to jointly developing design, procurement and manufacturing technologies.
The companies seek to effectively use human and technological resources through the new deal.