Mitsubishi Electric to establish factory for automation products

The new joint venture company will be named Mitsubishi Electric FP Automation Vietnam Co., Ltd. and be established on June 1. It will begin production of air circuit breakers from January 2025, in addition to the current company's existing line of small low-voltage circuit breakers.

Fuji Bakelite Vietnam, which has been in operation since 2014, manufactures small low-voltage circuit breakers for Mitsubishi Electric's Fukuyama Works in Hiroshima Prefecture.

The new company will leverage Fuji Bakelite Vietnam's skilled workforce and expertise in manufacturing and quality control in Vietnam in its manufacturing operations.

Up to now, Mitsubishi Electric has expanded its factory automation business in the ASEAN region by exporting products manufactured mainly in Japan. In the future, however, the demand for factory automation products is expected to increase robustly in countries such as Vietnam, Thailand, Indonesia, and Malaysia, where strong economic growth is forecast.

Establishing a joint venture in Vietnam will enable Mitsubishi Electric to build a production system for low-voltage circuit breakers, with aims to further expand its factory automation systems division by enhancing product supply capabilities in ASEAN countries.

Masan High-Tech Materials (HNX-UpCOM: MSR) has announced that it has reached a framework agreement with Mitsubishi Materials Corporation Group.

Mitsubishi Corporation will build an onshore wind farm based in Laos, which could then sell electricity to Vietnam.

Shikoku Electric Power Co., Inc. from Japan has completed the purchase of a 15 per cent stake in Vung Ang II thermal power plant from Mitsubishi Corporation for $87 million, despite the global trend to move away from coal.