Tokyo, September 27, 2011 - Mitsubishi Electric Corporation (TOKYO: 6503) announced today that it established a joint-venture company in China with GEM Electronics (Shanghai) Co., Ltd., a licensed manufacturer of Mitsubishi Electric power modules, to assemble and test such modules for power-saving applications in a variety of products. The new company, Mitsubishi Electric GEM Power Device (Hefei) Co., Ltd., will begin operating in January 2012 and is expected to double Mitsubishi Electric's current production capacity in China for consumer and industrial power modules by December 2015. Located in the Hefei Economic & Technological Development Area of Anhui Province, the company plans to expand its workforce to about 800 by the end of 2015. In line with worldwide efforts to save energy, the proliferation of inverter-equipped air conditioners and other home appliances, industrial machinery, solar and wind power generation systems, trains and electric and hybrid vehicles is spurring the global demand for power modules. Ownership will be shared by Mitsubishi Electric Corporation (70%), GEM Electronics (Shanghai) Co., Ltd. (20%) and Mitsubishi Electric (China) Co., Ltd. (10%). The company will start with paid-in capital of 5 million USD (approximately 425 million JPY). ..
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