Mitsubishi Electric, ABB form joint venture for power distribution business
Mitsubishi Electric has announced plans to carve out its distribution panel components business for factories and commercial buildings into a joint venture (JV) with Swiss power and automation giant ABB. Mitsubishi Electric will spin off the division and transfer a 51% stake to ABB. Moving forward, the Japanese conglomerate will focus on data center infrastructure and high-voltage grid applications positioned further upstream in power transmission and distribution.
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