| By Business Wire |
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| September 25, 2012 10:00 PM EDT |
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Mitsubishi
Electric Corporation (TOKYO:6503) announced today that its sales
subsidiary Mitsubishi Electric Vietnam will create a division to provide
servicing and replacement-parts sales for computerized numerical
controllers (CNCs) in Vietnam on October 1. Mitsubishi Electric is
strengthening its operations in Vietnam's industrial automation sector,
a growing base for manufacturing and export to ASEAN countries, Europe
and the United States.
Mitsubishi Electric has been providing after-sales servicing of CNC
products indirectly through distributors, so the new service division
will facilitate faster and more reliable servicing, as well as a wider
lineup of service parts. The division is expected to have a staff of
five by the end of March 2014.
Vietnam's promising growth outlook, which is supported by a large
population and abundant labor, have enabled Japanese and other foreign
enterprises to accelerate their expansion of local manufacturing,
particularly in the automobile industry, which has led to increased
installations of CNC machine tools. These developments, combined with
major projects that have been planned for infrastructure expansion,
including government-led energy, railway and housing projects, are
expected to help Vietnam achieve sustainable economic growth.
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CNC Service Division of Mitsubishi Electric Vietnam
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Establishment
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October 1, 2012
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Staffers
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Start with 3 (2 at head office and 1 in Hanoi Branch) at launch,
then increase to
5 by end of fiscal 2014
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Business
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Servicing of CNC products (parts replacement and sales)
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About Mitsubishi Electric Vietnam
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Official name
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Mitsubishi Electric Vietnam Company Ltd.
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Locations
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Head office: Ho Chi Minh City; Branch office: Hanoi
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Managing Director
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Kunihiko Seki
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Capital
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8.1 million US dollars (approximately 650 million yen)
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Ownership
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Mitsubishi Electric Asia Pte. Ltd.: 70%
Mitsubishi Electric
Corporation: 30%
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Established
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June 2011
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Business
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- Sales and servicing of air-conditioning systems and home
appliances
- Servicing of electric discharge machines and
laser processing machines
- Servicing of CNCs
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Employees
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40 by the end of March 2013
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About Mitsubishi Electric
With over 90 years of experience in providing reliable, high-quality
products, Mitsubishi Electric Corporation (TOKYO:6503) is a recognized
world leader in the manufacture, marketing and sales of electrical and
electronic equipment used in information processing and communications,
space development and satellite communications, consumer electronics,
industrial technology, energy, transportation and building equipment.
Embracing the spirit of its corporate statement, Changes for the Better,
and its environmental statement, Eco Changes, Mitsubishi Electric
endeavors to be a global, leading green company, enriching society with
technology. The company recorded consolidated group sales of 3,639.4
billion yen (US$ 44.4 billion*) in the fiscal year ended March 31, 2012.
For more information visit http://www.MitsubishiElectric.com
*At an exchange rate of 82 yen to the US dollar, the rate given by the
Tokyo Foreign Exchange Market on March 31, 2012
