Mitsubishi Electric : to Acquire Power Device Sales Business from Powerex
November 07, 2017 at 09:07 pm EST
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Note that the releases are accurate at the time of publication but may be subject to change without notice.
TOKYO, November 8, 2017
- Mitsubishi Electric Corporation (TOKYO: 6503) today announced that it reached an agreement with Powerex Inc. on November 3 to acquire the Mitsubishi Electric power device sales business currently handled by Powerex, which will be taken over by Mitsubishi Electric US, Inc. within January 2018.
Mitsubishi Electric power devices are sold in Japan, Europe, the Americas, China, Southeast Asia and India. The Americas are a key region due to the projected growth of the region's automobile market. Putting the business in the capable hands of Mitsubishi Electric US, a wholly owned subsidiary, will enable Mitsubishi Electric to focus more closely on its global customers. The specific benefits and synergies expected as a result of this new arrangement are as follows:
Following the acquisition, Mitsubishi Electric will continue to support Powerex's business development as a co-owner of the company.
Mitsubishi Electric Corporation published this content on 08 November 2017 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 08 November 2017 02:06:10 UTC.
Original documenthttp://www.mitsubishielectric.com/news/2017/1108-b.html
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Mitsubishi Electric Corporation is one of the world's leading manufacturers of electric and electronic equipment. Net sales (including intragroup) break down by family of products and by services as follows:
- industrial automation equipment (28.6%): programmable controllers, motor operators, counters, industrial robots, clutches, etc.;
- electric equipment (24.2%): generators, motors, transformers, power circuit breakers, testing systems, etc.;
- household appliances (22.4%): televisions, video recorders, air conditioners, refrigerators, lamps, vacuum cleaners, etc.;
- information and communication equipment (6.9%): mobile phones, satellites, aerials, medical and audiovisual equipment, servers, computers, etc.;
- electronic components and devices (4.7%): memory, logic integrated circuits, monitors, plasma screens, printed circuit cards, etc.;
- other (13.2%): financial services, real estate management, engineering and maintenance services, etc.
Net sales break down geographically as follows: Japan (52.1%), Asia (24.9%), Europe (11.1%), North America (10.3%) and other (1.6%).
MITSUBISHI ELECTRIC CORPORATION 
