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Toshiba Corp. and Mitsubishi Corp., both of Japan, announced on Friday that they will merge units that make and sell factory control and automation systems including industrial supervisory control systems, drive systems, and power distribution systems.
The joint venture is intended to bring together all aspects of the partners’ businesses including development, manufacturing and engineering, sales, installation, and service. The divisions affected by this merger are TMA Electric Corporation, an equally owned joint venture of Mitsubishi Electric and Toshiba for large capacity motors, and Toshiba GE Automation Systems Corporation, a Toshiba subsidiary in Japan.
The 50/50 partnership is expected to enhance product competitiveness, reinforce market presence, and enhance operating efficiency. According to the companies, the joint venture will rank third globally within the factory systems industry with a six percent market share, behind Siemens AG with 18 percent market share and Switzerland’s ABB with 12 percent market share.
The joint venture is scheduled to launch October 1 with 2,300 employees and 35 billion yen in capital. According to the companies, the partnership hopes to earn revenues of 160 billion yen by the 2006 business year. Back
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