Toshiba Corporation and IHI Corporation have created a joint venture to manufacture steam turbine parts for nuclear power plants in domestic and overseas markets.
The new firm, Toshiba IHI Power Systems Corporation, is located in a facility within IHI's headquarters in Yokohama, Japan.
The JV will allow IHI to extend its operations to major components of turbines and manufacture nuclear reactor pressure vessels and containment vessels.
Toshiba will be able to enhance its turbine manufacturing capacity and strengthen its nuclear power plant business supply chain.
The new firm will focus on producing casings and nozzles, major components of steam turbines for both boiling-water reactors and pressurised-water reactors.
The JV will combine manufacturing facilities for large-scale components with an engineering structure integrating highly advanced IT, including 3D-CAD systems.
IHI holds a 52% stake in the JV, while Toshiba holds the remaining 48%.