Mitsubishi Electric to establish Vietnam JV to produce factory automation items
Mitsubishi Electric Corporation, the electronics and electrical equipment arm of Japanese conglomerate Mitsubishi, is set to launch Mitsubishi Electric FP Automation Vietnam, a joint venture in the Southeast Asian country for the manufacturing of factory automation items.
In a Friday statement, Mitsubishi Electric said it would conduct the move by acquiring an 80% stake in Fuji Bakelite Vietnam Co., Ltd., a Hanoi-based subsidiary of Japan-based Fuji Bakelite Co., Ltd.
The new joint venture is set for establishment on June 1 and will begin production of air circuit breakers from January 2025, in addition to a production line of small low-voltage circuit breakers.
An illustration of Mitsubishi Electric factory in Hanoi. Photo courtesy of Mitsubishi Electric.
The joint venture will leverage Fuji Bakelite Vietnam’s skilled workforce and expertise in manufacturing and quality control in Vietnam, Mitsubishi Electric said. The new facility, located in Thang Long Industrial Park II invested by Japanese giant Sumitomo, is set to employ 400 people, the Japanese firm added.
Mitsubishi Electric has been expanding its factory automation business in ASEAN by exporting products manufactured mainly in Japan. The joint venture will enable Mitsubishi Electric to build a production system for low-voltage circuit breakers and further expand the factory automation business by enhancing product supply capabilities.
The demand for factory automation items is expected to increase robustly in Vietnam, Thailand, Indonesia, and Malaysia, where strong economic growth is forecast, Mitsubishi Electricity stated.
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