Mitsubishi Electric Transformer Factory Opens in Memphis

  Mitsubishi Electric Transformer Factory Opens in Memphis

          New Facility Supports Energy Infrastructure, Provides Jobs

Business Wire

MEMPHIS, Tenn. -- April 19, 2013

Mitsubishi Electric Power Products, Inc., a U.S. affiliate of Mitsubishi
Electric Corporation, headquartered in Tokyo, Japan, opened its North American
transformer factory in Memphis, Tenn. today. The $200 million, 350,000
square-foot facility occupies nearly 100 acres in Memphis’ Rivergate
Industrial Park.

“This facility is our largest single investment in the United States and
represents our commitment to provide reliable energy infrastructure as the
power grid continues to expand in North America and internationally,” said
Kenichiro Yamanishi, president and CEO of Mitsubishi Electric Corporation.
“This facility will significantly increase our transformer manufacturing
capacity and allow us to stay competitive in the robust global energy market.”

Production of large power transformers at the facility will begin immediately
with 65 new employees. A total count of new hires is expected to reach
approximately 275 at full production. The company continues to recruit
qualified manufacturing and technical personnel, including management,
professionals, and production technicians.

At full capacity, Mitsubishi Electric’s new factory will produce more than one
large transformer each week. The facility’s testing systems, used to verify
the quality and integrity of these high voltage transformer applications prior
to shipment, are among the largest and most advanced in the world. The Memphis
factory has already received orders from Dominion Virginia Power and Southern
California Edison for transformers to be delivered in 2013 and early 2014.

“This complex represents new jobs, and a growing domestic industry vital to
our national security. For Southern California Edison, this is the latest
chapter in an ongoing relationship with Mitsubishi Electric. I’m pleased that
SCE is among the first companies to place an order for four new 500 kV
transformers manufactured here in Memphis,” said David Mead, Southern
California Edison’s senior vice president of transmission and distribution.

The Memphis facility is capable of producing the largest power transformers in
the world, with voltage levels exceeding 765 kV - the highest system voltage
used in North America for efficiently transmitting electric power. These units
contain tons of precisely machined steel and copper windings and can exceed
400 tons in shipping weight.

“Dominion is pleased to use transformers provided by Mitsubishi and to have
some of the first units produced by this world class facility serving our
customers,” said David Roop, director of electric transmission operation at
Dominion Virginia Power.

Jon Wellinghoff, chairman of the Federal Energy Regulatory Commission, spoke
at the facility’s grand opening ceremony held earlier today. “The opening of
this plant and the new high-voltage transformers that it will produce, help
provide our nation with the capability to build the infrastructure that will
improve the security, reliability and operation of the electric transmission
grid,” Wellinghoff said.

“We’re pleased to be opening this 21^st century transformer factory in
Memphis. We chose this city because of its great logistics and its
pro-business culture,” said Brian Heery, president and CEO of Mitsubishi
Electric Power Products. “We’re off to a fast start, both training employees
and developing local suppliers. We’re excited about bringing the electric
power industry into the Memphis economy.”

About Mitsubishi Electric Power Products, Inc.

Headquartered in Warrendale, Penn., Mitsubishi Electric Power Products, Inc.
is a US affiliate of Mitsubishi Electric Corporation of Japan, and serves the
North American power systems, rail transportation and water treatment
industries with electrical and electronic products, systems and services.
Products include gas circuit breakers, vacuum circuit breakers, power
transformers, gas insulated sub-stations, power electronics and electricity
transmission technologies, generator services, ozone water treatment systems,
uninterruptible power supplies and rail transportation equipment. Information
on Mitsubishi Electric Power Products’ complete line of products and services
can be found at www.MEPPI.com.Mitsubishi Electric Power Products’ Diamond
Vision division markets large-scale video displays for stadiums and arenas,
including the Guinness World Record-holding display at Cowboys Stadium. To
learn more, visit www.Diamond-Vision.com.

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 3,639.4 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

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