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