Word: ihi
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Dates: during 1960-1969
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From Liberty to Freedom. "We are not concerned about being the world's biggest single shipbuilder. It doesn't mean a thing if you lose money," says IHI's Taguchi. Company profits are expected to be $12 million in fiscal 1967, up from $8,000,000 in 1966. And to keep the money rolling in, IHI this month will start large-scale production of an improved version of the World War II Liberty ships. Called Freedom ships, the 13,870-ton cargo vessels can be mass-produced at $2.8 million apiece, eventually at the rate...
Japan's new generation of tankers is getting too big for its berths. The world's latest heavyweight champion of the seas, a 276,000-ton ship built by Ishikawajima-Harima Heavy Industries Co. (IHI), last week had to be eased prematurely down the ways in Yokohama with upper portions of her towering hull unfinished. When completed, the new tanker, made in Japan for the U.S.'s National Bulk Carriers, Inc., will pack an incredible 2.2 million barrels of crude oil on her route from the Persian Gulf to Ireland, via the Cape of Good Hope...
...latest leviathan, says IHI's president, Renzo Taguchi, 61, who happens to be a golf buff, "would take a good drive and four iron from bow to stern." The ship is 1,150 ft. long with an overall height of 105 ft., and will be powered by an 18,700-h.p. engine, with a second one standing by for emergencies...
...Hallmark. IHI is about to be come the world's No. 1 shipbuilder, a title that eluded it last year when another Japanese firm, Mitsubishi Heavy Industries, topped IHI's 1,600,000-gross-ton production by almost 100,000 tons. By absorbing Kure, a smaller shipbuilder near Hiroshima, next April, IHI will boost launchings to over 1,800,000 tons. Total sales for the fiscal year 1967 are estimated at $530 million, up from $484 million in fiscal 1966. Only about half is brought in by the ships; the rest comes from a wide range of heavy...
Versatility has long been the hallmark of the company, which started building commercial vessels in a yard at Tokyo Bay in 1879 and expanded into heavy machinery as Japan industrialized in the following decades. During World War II, Ishikawajima produced destroyers, amphibious tanks, and-something IHI still proudly touts-a jet engine successfully tested in the late spring of 1945. In 1960, a merger with Harima Shipbuilding & Engineering strengthened the shipbuilding operation and put IHI in a position to challenge Mitsubishi, the industry's leader...