TOKYO, October 20, 2015- Mitsubishi Electric Corporation (TOKYO: 6503) Mitsubishi Electric Corporation today announces that its European subsidiary, Mitsubishi Electric Europe B.V, has completed the integration of its former air conditioning distributor MIBA AS, acquired in July. In addition, from October 2015, the company will expand beyond air conditioning by promoting other businesses, like Factory Automation, in the Norwegian market.
This news marks a significant milestone for Mitsubishi Electric in Norway as it establishes a presence in the country under its own name, strengthening its market position through contributing to the overall energy saving ethos of Norway, which is akin to its own, as well as providing energy and resource efficient products.
Prior to its integration, MIBA AS had been selling Mitsubishi Electric air conditioning equipment in Norway for almost 25 years, steadily entrenching its market position with strong technical expertise and customer friendly after-care service. Mitsubishi Electric acquired MIBS AS for these reasons, in addition to its extensive sales knowledge and local sales network.
The Norwegian air conditioning market has expanded in recent years in response to increased demand for low energy consumption air conditioning systems. Furthermore, it is expected that demand for hot water heat pumps will also increase.
Mitsubishi Electric Europe B.V. establishes its Norwegian Branch by bringing MIBA into the fold with a purpose of further expansion of its businesses in Norway via enhancing air conditioning business as the mainstay.
With over 90 years of experience in providing reliable, high-quality products to both corporate clients and general consumers all over the world, Mitsubishi Electric Corporation (TSE: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. Mitsubishi Electric Europe B.V is a wholly owned subsidiary of Mitsubishi Electric Corporation; helping European customers meet their business challenges through providing innovative technologies and high quality products and solutions. For more information about Mitsubishi Electric Europe B.V. visit www.mitsubishielectric.eu
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