Mitsubishi Electric, a global provider of electrical and electronic equipment for satellite communications, space development, information processing and communications, consumer electronics, energy, industrial technology, building equipment and transportation, has entered into a merger agreement with the Messung Group in India.
The Messung Group is an existing sales and distribution partner of Mitsubishi Electric for over 15 years. It manufactures human machine interfaces (HMIs) and programmable logic controllers (PLCs). The merger will help Mitsubishi Electric to boost its sales and solutions business in industrial automation systems. Mitsubishi Electric has targeted to achieve sales of JPY 15 billion before March 2016.
In December 2011, Mitsubishi Electric entered a business transfer agreement with the Messung Group. The acquisition is expected to be finalized by March 2012, and the step toward consolidating the business is to start in April.
The increasing demand in the pharmaceutical, automotive, food and beverage, and textile industries is expected to fuel the growth of the Indian industrial automation market by over 10% every year. The Messung Group has been providing technical solutions and support to various manufacturers of industrial automation equipment in India. Mitsubishi Electric expects to capitalize those relationships, and the Messung Group's knowledge in development, manufacturing and sales for expanding and penetrating into the growing market for industrial automation in India.