The Tennessee Valley Authority has awarded CORMETECH, INC. a $68 million contract to install its ceramic-based catalysts at 10 TVA coal-fired power plants in Tennessee, Kentucky and Alabama to reduce their smog-creating emissions of nitrogen oxide. The Durham, North Carolina manufacturer, in operation since 1992, is owned by MITSUBISHI HEAVY INDUSTRIES, LTD. (35 percent), MITSUBISHI CHEMICAL CORP. (15 percent) and CORNING INC. (50 percent). Cormetech's selective catalytic reduction technology first will be applied at TVA's generating plant in Drakesboro, Kentucky this fall. The company expects to complete the entire project by 2003. Cormetech's ceramic honeycomb catalysts are designed to control harmful emissions from any stationary source.
FUJI KASUI INDUSTRY CO., LTD., a Tokyo-headquartered environmental engineering firm, has set up shop in Cincinnati, Ohio. The company's first offshore office initially will provide maintenance services for heavy industry's flue-gas desulfurization equipment, targeting Japanese-affiliated makers in the Midwest. Later, Fuji Kasui Industry plans to market its own flue-gas desulfurization system. For that move, the firm will try to tie up with an American company. It also has on the drawing boards an office in San Diego, California.
Japanese automotive parts manufacturers in the United States that want to install a local area network or intranet have a new service option. KDD CORP. subsidiary TELECOMET, INC. of New York City and the U.S. subsidiary of TOYOTA TSUSHO CORP. have launched an information systems construction business. For now, TELECOMET TECHNOSERVICE CORP., in which five-year-old Telecomet has a 55 percent stake, is marketing itself to TOYOTA MOTOR CORP. parts suppliers. The KDD affiliate's business, which generates revenues of about $12 million a year, has taken a hit because most of its customers are downsizing Japanese financial institutions.
Hoping to build its business in the United States and Europe, Japan's biggest advertising agency, DEN-TSU INC., is negotiating an alliance with LEO BURNETT CO. The tie-up could include a minority investment in the Chicago company, which ranks among the top three U.S. ad agencies in terms of billings. Since 1981, Dentsu has had a Manhattan joint venture with YOUNG & RUBICAM INC. This relationship would not be affected by a deal with Leo Burnett. However, that company's Japan-based joint venture with KYODO ADVERTISING CO., LTD. reportedly would be dissolved if an arrangement is finalized with Dentsu.
Business news from JIJI PRESS now is available to people who have access to the services of BUSINESS WIRE, a leading source of news about major U.S. corporations. The agreement was negotiated by ADEX LTD., Business Wire's longtime partner in Asia. That Japanese company will continue to serve as the news distributor's Asian operations center.
Subject to government approval, NIPPON CARGO AIRLINES CO., LTD. and NWA INC.'s Northwest Airlines will provide transpacific cargo code-sharing services. NCA will operate flights to Chicago and on to New York from Osaka, while Northwest will carry freight to the same destinations from Tokyo. As part of their expanded relationship, the Japanese all-cargo carrier will lease warehouse space from Northwest at Chicago's O'Hare Airport until it can build its own facility adjacent to the Northwest warehouse.
An exchange rate of ¥117=$1.00 was used in this report.aaaaaa