FOR IMMEDIATE RELEASE No. 3269
TOKYO, March 12, 2019 - Mitsubishi Electric Corporation (TOKYO: 6503) announced today the planned establishment of a new company, MELCO Factory Automation Philippines Inc. (MELAP) in the Philippines, to further expand Mitsubishi Electric's factory automation (FA) business in the country, which is already experiencing significant growth. MELAP will be jointly established by Mitsubishi Electric, Setsuyo Astec Corporation (STC) and Integrated Factory Automation Inc. (IFA), a FA product distributor and long-time partner of Mitsubishi Electric in the Philippines. The new company, which will start operating from June 2019, will provide sales and technical service for FA products.
Robust growth is expected in the Philippine industrial automation market, particularly in the electronics and food & beverage industries, as well as in connection with active investment in infrastructure. Mitsubishi Electric has been providing sales and technical support for FA products to customers in the aforementioned industries through local distributors such as IFA. MELAP is expected to improve customer satisfaction and enhance Mitsubishi Electric's local FA business. Specifically, it will boost technical service capabilities in cooperation with Mitsubishi Electric's global service network and will also strengthen solution offerings to meet automation and IoT demands.
|Ownership||Mitsubishi Electric (40%), STC (20%) and IFA(40%)|
|Capital||PHP 126 million|
|Establishment||May 2019 (planned)|
|Start of operation||June 2019 (planned)|
|President & CEO||Motokazu Inaba|
|Location||Kita-ku, Osaka, Japan|
|Capital||JPY 90 million|
Sales and supply of electric equipment in Asia, including:
Note that the press releases are accurate at the time of publication but may be subject to change without notice.