MANILA - Mitsubishi Electric Corp. is planning to set up a new company in the Philippines as it expands its factory automation business amid "significant growth."
Mitsubishi Electric, which provides computers, industrial robots and other equipment to manufacturers, said the new company will be called MELCO Factory Automation Philippines (MELAP).
The new company will be jointly established in partnership with Setsuyo Astec Corp. and Integrated Factory Automation Inc., Mitsubishi Electric said.
MELAP will provide sales and technical service for factory automation products, and is expected to start operations in June, Mitsubishi said.
"Robust growth is expected in the Philippine industrial automation market, particularly in the electronics and food & beverage industries, as well as in connection with active investment in infrastructure," Mitsubishi said in a statement.
Besides factory automation products, Mitsubishi Electric also sells elevators, escalators, and air conditioning and ventilation systems for buildings.