OCTOBER 21, 2014 — Mitsubishi Heavy Industries Marine Machinery & Engine Co., Ltd. (MHI-MME) has concluded a licensing agreement with China's Changzhou Zhonghai Marine Propeller Co., Ltd. (CZZH) under which MHI-MME provides CZZH the manufacturing and marketing rights to its marine propellers. MHI-MME has previously licensed a variety of its marine machinery to Chinese companies — including two-stroke low-speed engines, marine auxiliary boilers, marine turbines and steering gears, but this agreement marks the first time the company will be licensing its propellers.
The licensing agreement covers the complete line of Mitsubishi Advanced Propellers (MAP , including the advanced model Mark-W.
CZZH is an independent corporation established in 1992 and headquartered in the city of Changzhou in Jiangsu Province. Initially the company launched operations manufacturing ingots, but in 2006 it shifted to production of propellers. In March 2014 CZZH brought a new manufacturing plant giving it a propeller production capacity of nearly 5,000 tons per year.