|[April 01, 2014]
Mitsubishi Electric to Establish Yangon Branch Office in Myanmar
TOKYO --(Business Wire)--
Electric Corporation (TOKYO:6503) announced today that its
Singapore-based subsidiary, Mitsubishi Electric (News - Alert) Asia Pte Ltd, will
establish a branch office in Yangon, Myanmar. The Yangon Branch Office,
which will commence operations on April 25, will coordinate Mitsubishi
Electric's efforts to expand business in Myanmar by conducting market
research, collecting information and providing support for
infrastructure projects and local distributors.
The office, headed by General Manager Kohji Maruyama, will be located at
Unit No. 05-04 (Level-5), Union Business Centre, Nat Mauk Road, Bo Cho
Quarter, Bahan Township, Yangon.
Foreign investment for the development of infrastructure and special
economic zones is acceerating in Myanmar due to democratization and
economic reforms in recent years. The country's consumer market has
strong growth potential over the medium to long term.
For many years, Mitsubishi Electric has been selling products and
services, mainly in the power sector, for infrastructure development,
beginning with its supply of transformers for a hydroelectric power
plant in 1960. The company also has been supplying residential and
commercial air-conditioning systems, home appliances including
refrigerators and electric fans, factory-automation products, elevators
and escalators through distributors since the 1990s.
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 3,567.1
billion yen (US$ 37.9 billion*) in the fiscal year ended March 31, 2013.
For more information visit http://www.MitsubishiElectric.com
*At an exchange rate of 94 yen to the US dollar, the rate given by the
Tokyo Foreign Exchange Market on March 31, 2013
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