Mitsubishi Electric to Establish Industrial Automation Company in the Philippines
MITSUBISHI ELEC UNSP/ADR (MIELY)
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mitsubishielectric.com/company/ir/index.html
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Source: Business Wire
Will help to grow industrial automation business in the country to US$ 30 million by the fiscal year ending March 31,2026 TOKYO--(BUSINESS WIRE)-- 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 elect
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