Mitsubishi Electric to Strengthen Industrial Automation Systems Business in Turkey through Acquisition of Sales and Distribution

  Mitsubishi Electric to Strengthen Industrial Automation Systems Business in
  Turkey through Acquisition of Sales and Distribution Partner

Business Wire

TOKYO -- March 21, 2013

Mitsubishi Electric Corporation (TOKYO: 6503) announced that its sales
subsidiary Mitsubishi Electric Turkey A.Ş. has acquired its local industrial
automation sales and distribution partner GENEL TEKNİK SİSTEMLER SANAYİ ve
TİCARET ANONİM ŞİRKETİ (GTS). The acquisition will allow Mitsubishi Electric
to accelerate its industrial automation systems business in Turkey for
strengthened local sales and solutions, aiming at industrial automation sales
of JPY 3 billion in Turkey by the fiscal year ending March 2016.

As a result of the acquisition, GTS, a local partner for some 20 years and
currently functioning with a workforce of 42, will merge with Mitsubishi
Electric Turkey and begin operating under the new structure in May.

Turkey’s industrial automation market is expected to grow by more than 10%
annually due to increasing demand in the automotive, food and beverage
industries. GTS has built strong relationships in these industries by
providing technical support and solutions to industrial automation equipment
manufacturers. Mitsubishi Electric will leverage these relationships and GTS’s
expertise to strengthen its solution business and penetrate more deeply into
this fast-growing market under a growing commitment to provide quality
products and services to customers in Turkey and other markets of Central
Asia.

Mitsubishi Electric Turkey A.Ş.

Headquarters     Istanbul
President         Kei Uruma
Paid-in capital   28 million Turkish Lira (approximately 1,240 million yen)
Ownership         Mitsubishi Electric Europe B.V.: 70%
                  Mitsubishi Electric Corporation: 30%
Registration      December 7, 2012
Business          Sales and support for Mitsubishi Electric’s industrial
                  automation products in Turkey and surrounding region
                  

GTS

Locations    Headquarters in Istanbul and sales offices in Bursa, Ankara,
              Izmir and Adana
Established   1992
Employees     42 (as of February 2013)
              - Sales distribution of Mitsubishi Electric’s industrial
Business      automation products

              - Engineering services and technical integration
              

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 manufacturing, 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

Contact:

Mitsubishi Electric Corporation
Customer Inquiries
Planning & Administration Dept.
Factory Automation Systems Group
Tel: +81-3-3218-6480
http://www.MitsubishiElectric.com/products/industry
http://www.MitsubishiElectric.com/news/
or
Media Inquiries
Yurika Fujimoto, +81-3-3218-3380
Public Relations Division
prd.gnews@nk.MitsubishiElectric.co.jp
 
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