Toshiba Corporation has announced that it has signed a memorandum of understanding with Korea's Unison Co on entering the wind power business through a strategic business alliance for the co-development and marketing of wind power generators.
The vehicle for the alliance will be Toshiba's subscription to a 40 billion won (approximately US$ 364 million) convertible bond that Unison will issue after getting appropriate approvals. The alliance will give Toshiba rights for distribution of Unison's generators worldwide through its overseas subsidiaries. Toshiba will also work with Unison on co-development of higher efficiency wind turbines, applying design technologies for fluid mechanics derived from its know-how in steam turbine generators.
The vehicle for the alliance will be Toshiba's subscription to a 40 billion won (approximately US$ 364 million) convertible bond that Unison will issue after getting appropriate approvals. The alliance will give Toshiba rights for distribution of Unison's generators worldwide through its overseas subsidiaries. Toshiba will also work with Unison on co-development of higher efficiency wind turbines, applying design technologies for fluid mechanics derived from its know-how in steam turbine generators.
