Sumitomo Heavy Industries, Ltd. (SHI) is an integrated manufacturer of industrial machinery, automatic weaponry, ships, bridges and steel structure, equipment for environmental protection, including recycling, power transmission equipment, plastic molding machines, laser processing systems, particle accelerators, material handling systems, etc.
In 1888, a company was formed to provide equipment repair services to the Besshi copper mine. Almost 50 years later, in 1934, the company incorporated as Sumitomo Machinery Co., Ltd. to manufacture machinery for the steel and transportation industries in support of that period of rapid economic growth.
In 1969, Sumitomo Machinery Co., Ltd. merged with Uraga Heavy Industries Co., Ltd. to create Sumitomo Heavy Industries, Ltd. The company continues to innovate and expand to meet the demands of the new market frontiers. Today, Sumitomo Heavy Industries manufactures injection molding machines, laser systems, semiconductor machinery and liquid crystal production machinery.
In 1979, the company famously built the Seawise Giant, a ULCC supertanker and the longest ship ever built (But not the heaviest by gross tonnage).
In the 1980s they had a JV/licensing deal with JCB were JCB built Sumitomo designed excavators in the UK & marketed them in Europe. This benefited both parties as JCB got a modern design and Sumitomo avoided anti dumping duties (import taxes) which were being imposed on Japanese manufactures selling in Europe. Other Japanese manufacturers formed joint ventures with other brands. This was later repeated with the Korean and other far eastern makers.
Note: This stockmarket index list changes every few months as companies move in and out of the index based on stock values - Current version = April 2011
ยฅ308,711 million (as of March 31, 2008)
