Mitsubishi, Ryobi Studying Business Alliance

HIROSHIMA, JAPAN—Mitsubishi Heavy Industries Printing & Packaging Machinery and Ryobi Limited have signed a letter of intent for a joint study on a business alliance for commercial printing machinery business.

Both companies have been producing and selling sheetfed offset printing presses and facing the stiffer market situation with the shrinking demand, especially in developed countries due to the recent global economic crisis. This has led both companies to promote structural reforms to sustain competitiveness in the market and financial soundness as well.