Mitsubishi Electric Corporation has announced its acquisition of the Messung Group, a Pune-based manufacturer of programmable logic controllers (PLCs) and human machine interfaces (HMIs), its sales and distribution partner in India, for an unspecified amount.
The acquisition will allow Mitsubishi Electric to accelerate its industrial automation systems business in India and strengthen local sales and solutions.
According to the statement issued here, the Messung Group will be merged with Mitsubishi Electric India Pvt. Ltd, headquartered in Gurgaon. A business transfer agreement signed by Mitsubishi Electric and the Messung Group last month, in December 2011, is expected to be completed by the end of March 2012 to finalise the acquisition.
Operations of the consolidated business will commence in April. Messung was Mitsubishi's sales partner for about 15 years.
The industrial automation market in India is expected to grow by more than 10% annually, driven by increasing demand in the automotive, textile, pharmaceutical and food and beverage industries.
Mitsubishi Electric expects to leverage relationships that the Messung Group has built in these industries by providing technical support and solutions to industrial automation equipment manufacturers.
The Mitusbishi group recorded consolidated revenues of US $43.9 billion in the financial year ended March 31, 2011.
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