|By Business Wire||
|September 25, 2012 10:00 PM EDT||
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.
CNC Service Division of Mitsubishi Electric Vietnam
|Establishment||October 1, 2012|
Start with 3 (2 at head office and 1 in Hanoi Branch) at launch,
then increase to
5 by end of fiscal 2014
|Business||Servicing of CNC products (parts replacement and sales)|
About Mitsubishi Electric Vietnam
|Official name||Mitsubishi Electric Vietnam Company Ltd.|
|Locations||Head office: Ho Chi Minh City; Branch office: Hanoi|
|Managing Director||Kunihiko Seki|
|Capital||8.1 million US dollars (approximately 650 million yen)|
Mitsubishi Electric Asia Pte. Ltd.: 70%
- Sales and servicing of air-conditioning systems and home
|Employees||40 by the end of March 2013|
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
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