Hitachi and Mitsubishi 'to open merger talks'

Hitachi and Mitsubishi 'to open merger talks'
Tokyo (AFP) Aug 4, 2011 - Japanese manufacturing giants Hitachi and Mitsubishi Heavy are to start merger talks, reports said Thursday, as they look for growth beyond a shrinking domestic market and battle a strong yen. The two companies have combined annual sales of more than 12 trillion yen ($155 billion) and the move would create a Japanese industrial behemoth and one of the world's biggest infrastructure firms. ... more