Electric Corporation (TOKYO:6503) announced today that it 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.
New Energy System Company
About Mitsubishi Electric Corporation
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 3,567.1
billion yen (US$ 37.9 billion*) in the fiscal year ended March 31, 2013.
For more information visit http://www.MitsubishiElectric.com*At
an exchange rate of 94 yen to the US dollar, the rate given by the Tokyo
Foreign Exchange Market on March 31, 2013
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