Mitsubishi Electric Power Products Inc. to Build a Manufacturing Factory in Western Pennsylvania as Part of an $86 Million Investment in Advanced Switchgear and Power Electronics in North ...
MITSUBISHI ELEC UNSP/ADR (MIELY)
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mitsubishielectric.com/company/ir/index.html
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Source: Yahoo! Finance
Mitsubishi Electric Corporation ("MELCO") in Japan, announced an $86 million investment in advanced switchgear production and power electronics in the U.S. This investment is driven by the increasing demand for transmission and distribution grid products as the U.S. moves toward renewable energy and decarbonization goals. Mitsubishi Electric Corporation's approval of the MEPPI investment represents a broader strategy to strengthen its production capabilities of energy systems both in Japan and overseas. MEPPI will construct a new approximately 160,000 square foot Advanced Switchgear Factory in Western Pennsylvania, marking MEPPI's first new manufacturing facility in over a decade. Initially, the factory will focus on the production of both vacuum and gas circuit breakers. As the factory scales its operations, it will transition to predominantly manufacturing vacuum circuit breakers, aligning with MEPPI's commitment to meet the evolving needs of U.S. electric utilities and support
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