17 October 2013

Mitsubishi Electric establishes new energy-system company in China

Tokyo - 17 October 2013 - Mitsubishi Electric Corporation has established Mitsubishi Electric Power & Electrical Infrastructure Systems (Beijing) Co., Ltd. (MEPIC) in Beijing, China to provide energy-system sales, engineering and related services. The company, which will start operating in December, plans to open branches in Shanghai and Guangzhou.

MEPIC, an offshoot of the energy system division of Mitsubishi Electric & Electronics (Shanghai) Co., Ltd., will operate under Mitsubishi Electric (China) Co., Ltd., Mitsubishi Electric's regional corporate office and investment company in China. It is expected to upgrade Mitsubishi Electric's energy-system business in China with stronger customer sales, increased cooperation with Chinese partners, including exports, expanded repair and maintenance services, and entry into new businesses, such as smart grids. Energy-system revenue is envisioned to rise from 20 billion Yen in 2013 to 30 billion Yen in 2017.

China is forecast to surpass North America with the world's largest power generation capacity by 2020. Demand for power-generation facilities is expected to remain strong, given that it is a top priority both in the current and subsequent five-year plans.

Mitsubishi Electric Corporation (TOKYO: 6503) is a 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. The company recorded consolidated group sales of 3,567.1 billion yen (US$ 37.9 billion) in the fiscal year ended March 31, 2013.

Source: Mitsubishi Electric