Swiss Engineering Firm ABB In Joint Venture With Mitsubishi Electric
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ABB gründet Gemeinschaftsunternehmen mit Mitsubishi Electric
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Read more: ABB gründet Gemeinschaftsunternehmen mit Mitsubishi Ele
The industrial group is acquiring a 51% majority stake in the joint venture for the equivalent of around $495 million.
The new company combines ABB's technology and sales network with Mitsubishi Electric's Japanese operations, as the company announced on Tuesday. With this move, ABB aims to strengthen its weak position in Japan and improve its access to growth markets in the Asia-Pacific region.
Mitsubishi Electric's division employs around 2,800 people. Among other things, it manufactures low-voltage circuit breakers, switches, motor starters, contactors, control units, measurement and monitoring technology, and uninterruptible power supply systems.
The transaction is scheduled to be completed in the second half of 2027. ABB also has an option to take full ownership of the joint venture in the medium term.
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