Mitsubishi, Ryobi to Integrate Sheetfed Businesses

The corporate name will be RYOBI MHI Graphic Technology Ltd., with headquarters in Hiroshima, Japan. The board of directors will include three from Ryobi and two from MHI-PPM, which reflects Ryobi's 60 percent ownership and MHI-PPM's 40 percent.

This agreement, the companies say, stems from the shrinking demand for sheetfed presses, especially in the developed countries, due to the global economic crisis. This downturn has led both companies to promote internal structural reforms to sustain their market competitiveness and financial soundness.