MHI Considering Splitting Off Newbuilding Business

Japan's Mitsubishi Heavy Industries Ltd (MHI) said on Wednesday it was considering a range of options for its shipbuilding business, including splitting it off into a separate company.

The comment follows a report in the Nikkei business daily that it was looking at splitting off part of its shipbuilding business - primarily the shipyards that construct liquefied natural gas and liquefied petroleum gas carriers - by the middle of next year.

The move would allow that division to explore business tie-ups with other shipbuilding firms, it said.