Mitsubishi Electric to Establish Vietnamese JV for FA Products
23 Mayo 2024 - 9:10PM
Business Wire
Will initially produce low-voltage circuit
breakers for factory-automation products in ASEAN region
Mitsubishi Electric Corporation (TOKYO: 6503) announced today
that it will acquire an 80% stake in Fuji Bakelite Vietnam Co.,
Ltd. in outskirts of Hanoi, a subsidiary of Fuji Bakelite Co., Ltd.
in Okayama Prefecture, Japan. The new joint venture (JV) company,
to be named Mitsubishi Electric FP Automation Vietnam Co., Ltd.,
will be established on June 1 and will begin production of air
circuit breakers from January 2025, in addition to the current
company’s existing line of small low-voltage circuit breakers.
Fuji Bakelite Vietnam, which has been in operation since 2014,
manufactures small low-voltage circuit breakers for Mitsubishi
Electric’s Fukuyama Works in Hiroshima Prefecture. The new JV will
leverage Fuji Bakelite Vietnam’s skilled workforce and expertise in
manufacturing and quality control in Vietnam in its manufacturing
operations.
Up to now, Mitsubishi Electric has expanded its factory
automation (FA) business in the ASEAN region by exporting products
manufactured mainly in Japan. In the future, however, the demand
for FA products is expected to increase robustly in countries such
as Vietnam, Thailand, Indonesia and Malaysia, where strong economic
growth is forecasted. Establishing a JV company in Vietnam will
enable Mitsubishi Electric to build a production system for
low-voltage circuit breakers. In the future, this JV company aims
to further expand its FA systems business by enhancing product
supply capabilities in ASEAN countries to meet the growing demand
for FA products.
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