Mitsubishi Electric to Establish Vietnamese JV for FA Products
2024-05-26
TOKYO, May 24, 2024 - Mitsubishi Electric Corporation (TOKYO: 6503) announced today that it will acquire an 80% stake in Fuji Bakelite Vietnam Co., Ltd. in outskirts of Hanoi, a subsidiary of Fuji Bakelite Co., Ltd. in Okayama Prefecture, Japan. The new joint venture (JV) company, to be named Mitsubishi Electric FP Automation Vietnam Co., Ltd., will be established on June 1 and will begin production of air circuit breakers from January 2025, in addition to the current company's existing line of small low-voltage circuit breakers.
