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Sumitomo Heavy Industries

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Sumitomo Heavy Industries Ltd. is a member of the Sumitomo Group Public Affairs Committee.[1]  This business group is a collection of separate companies that share business values (a Keiretsu). The company is based out of Tokyo, Japan.

Founded in 1888, Sumitomo Heavy Industries is a manufacturer of products in a wide variety of heavy industries, including transmission parts for industrial equipment, plastic and metal forging units, environmental treatment systems, and materials handling equipment.[2]

Contents

[edit] History

[edit] Early Days

Sumitomo Heavy Industries was established in 1888 to serve the Besshi Copper Mine (also owned by the Sumitomo Group) in the fields of manufacturing and machinery repair. In 1928 the company was incorporated as Sumitomo Machinery Co. Ltd. Twenty-one years later, in 1949, the company made its initial public offering, allowing investors to purchase shares on both the Tokyo and Osaka Stock exchanges. The company made several name changes over this time (in 1894, 1928, 1940), finally landing on Sumitomo Machinery Industries Co. in 1952. [3]

[edit] Sumitomo Heavy Industries Ltd.

In 1969 Sumitomo Machinery Industries Co. merged with Uraga Dock Co. (est. 1897) to take the company’s current name: Sumitomo Heavy Industries Ltd. [4]

[edit] International Expansion

Over the years, Sumitomo Heavy Industries has expanded internationally by forming subsidiaries and by means of acquisition, in an effort to sell current products to new markets. Sumitomo Heavy Industries’ first exploration into foreign markets occurred in 1966, with the formation of the Sumitomo Machinery Corp.of America. [5]

In particular, Sumitomo Heavy Industries has established itself outside of Japan with its Cyclo Drive brand of products (a.k.a. CycloR). Cyclo is a manufacturer of components for transmissions. Cyclo now exists in Germany (est. 1974), Brazil (est. 1977), China (est. 1994), Singapore (est. 1995), and Taiwan (est. 1996). Cyclo was also introduced into the U.K. in 1996 but was dissolved in 2006. [6]

In addition to Cyclo Drive subsidiaries, Sumitomo Heavy Industries has brought other products and services to foreign markets. In 1976 Sumitomo Heavy Industries opened a Shipyard & Engineering facility in Malaysia. In 1976 the Dongguk Heavy Industries Co. was established in South Korea. In 1980 SHI Plastic Machinery Inc. of America (at that time called SPM Corp.) was established. In 1985 Sumitomo Heavy Industries brought its business to China by opening an office in Hong Kong and forming a Chinese subsidiary, International Construction Machinery (Shenzhen) Co. Ltd. In 1998 Sumitomo Heavy Industries expanded to the United States again, this time with the Sumitomo Plastic Machinery Manufacturing Co. of America. In 2004 Sumitomo Heavy Industries (Shanghai) Ltd. was established in China. [7]

[edit] Domestic Expansion

Since the end of the 20th century, Sumitomo Heavy Industries has expanded in Japan by acquiring existing companies and establishing new divisions of their own. In 1999 Sumitomo Heavy Industries acquired Osaka Chain and Machinery Ltd. (now known as SEISA Gear Ltd.). In 2002 Sumitomo Heavy Industries and Hitachi Construction Machinery Co. worked together in establishing Hitachi Sumitomo Heavy Industries Construction Crane Co. In 2003 Shin Nippon Machinery Co was acquired. In 2003 Sumitomo Heavy Industries’ shipbuilding division was reorganized, resulting in the formation of Sumitomo Heavy Industries Marine & Engineering Co. In 2007 Sumitomo Heavy Industries Environment Co. was formed. [8]

[edit] Significant Technological Achievements

Throughout its history, Sumitomo Heavy Industries Ltd. has held a number of world records.

[edit] Seawise Giant

In 1975 Sumitomo Heavy Industries launched the longest ship that had ever been built: the Seawise Giant. At 1,504 feet (458.45 m) in length, the Seawise Giant is longer than the Empire State Building is tall. At full capacity (4.1 million barrels of oil) the hull drops 81 feet (24.6 m) below water level. This makes it too deep to navigate the English Channel, Suez Canal, or the Panama Canal. The ship was sunk in 1986 by Iraqi forces in the Iran-Iraq war. It was salvaged from the ocean floor, repaired, sold, and renamed the “Jahre Viking” in 1991. In 2004 the ship was resold and stationed in Dubai, where it now provides permanent floating storage used to process cargo.  It is now known as the "Knock Nevis".[9]

In 1981 Sumitomo Heavy Industries produced a 16,000-ton press, which at the time was the heaviest in the world. In 1993 the company completed the world’s largest mud work system. Two years later, in 1995, it produced the world’s largest grab bucket dredger. Then in 1996, production of the world’s largest continuous unloader was completed. In 2004 Sumitomo Heavy Industries sold the world’s first automatic radiopharmaceutical administering device for use in Positron Emission Tomography, which is a body scanner for applications in medicine. [10]

Sumitomo Heavy Industries also contributed to the construction of the world’s longest suspension bridge, the Akashi-Kaikyo Bridge which crosses the Akashi Strait in Japan. Completed in 1998, it took two million workers 10 years to finish the project. Sumitomo Heavy Industries contributed by providing stiffening girders. [11][12]

[edit] The Company Today

Sumitomo Heavy Industries is still traded on the Tokyo and Osaka Stock Exchanges. Sumitomo Heavy Industries’ president is Yoshinobu Nakamura. For the year ended March 31, 2008, sales totalled ¥660,769 million (US$6.94 billion). [13]

Sumitomo Heavy Industries has 164 subsidiaries and 29 affiliates in a wide variety of industries, including power transmission & controls, plastics machinery, steel structure and process equipment manufacturing, industrial machinery, materials handling, and shipbuilding. [14]

Sumitomo Heavy Industries has operations all over the world, including in the USA, Germany, China, Singapore, Vietnam, Taiwan, South Korea, Thailand, Malaysia, Indonesia, Philippines, The Netherlands, and the U.K.[15]

[edit] Equipment List

[edit] References

  1. Sumitomo Group Public Affairs Committee. List of Group Companies [May 15, 2009].
  2. Sumitomo Heavy Industries, Ltd. History [May 26, 2009].
  3. Sumitomo Heavy Industries, Ltd. History [May 26, 2009].
  4. Sumitomo Heavy Industries, Ltd. History [May 26, 2009].
  5. Sumitomo Heavy Industries, Ltd. History [May 26, 2009].
  6. Sumitomo Heavy Industries, Ltd. History [May 26, 2009].
  7. Sumitomo Heavy Industries, Ltd. History [May 26, 2009].
  8. Sumitomo Heavy Industries, Ltd. History [May 26, 2009].
  9. ECONOMICexpert.com. Knock Nevis [May 26, 2009].
  10. Sumitomo Heavy Industries, Ltd. History [May 26, 2009].
  11. TechnologyStudent.com. THE AKASHI-KAIKYO SUSPENSION BRIDGE - JAPAN [May 26, 2009].
  12. Sumitomo Heavy Industries, Ltd. History [May 26, 2009].
  13. Sumitomo Heavy Industries, Ltd. Consolidated Results for the Full Year Ended March 31, 2008 [May 26, 2009].
  14. Sumitomo Heavy Industries, Ltd. Affiliated Companies [May 26, 2009].
  15. Sumitomo Heavy Industries, Ltd. Overseas Subsidiaries [May 26, 2009].