FOR IMMEDIATE RELEASE No. 3357
TOKYO, June 2, 2020 - Mitsubishi Electric Corporation (TOKYO: 6503) announced today that it has acquired a 34% share in EKE-Electronics Ltd., a Finnish manufacturer of train information systems. The company aims to strengthen product competitiveness of train control and management system (TCMS) and to establish technology of support system for condition-based maintenance (CBM). This capital alliance will allow Mitsubishi Electric to drive business collaboration with EKE-Electronics in order to enhance its train information systems business in overseas market.
Today, there are growing needs in the railway industry for improved customer services, faster responses to operation troubles, more efficient maintenance activities enabled by IoT and analytic technology that collects and analyzes various big data from the trains in operation. In the worldwide railway market, including Europe, the world's largest market, the railway system is expected to be enhanced by utilizing digital technology, which may consequently further increase the value of the information-based equipment.
EKE-Electronics is known for production, sales and after-sales of the train information systems and its peripherals over 30 years with many supply records in Europe as well as in Asia and Oceania. By investing in EKE-Electronics, Mitsubishi Electric aims to not only strengthen competitiveness of its train information system (TCMS and remote condition monitoring system which utilizes TCMS), but also establish technology of the CBM support system for railcar. Furthermore, by leveraging the two companies' sales channels as well as know-how, Mitsubishi Electric aims to grow its train information systems business in overseas market.
|Company name||EKE-Electronics Ltd.|
|Representative||Marko Mäkinen (Managing Director)|
|Locations||Espoo, Finland (Headquarter), Shanghai, China, and London, UK|
|Capital||17 thousand euros|
|Number of employees||90 (as of the end of December 2019)|
|Annual sales||About 17,500 thousand euros (fiscal year ended December 31, 2019)|
|Business||Production, sales and after-sales services of train information systems (TCMS and peripheral equipment) as well as remote train condition monitoring systems which utilize TCMS|
Note that the press releases are accurate at the time of publication but may be subject to change without notice.