Mitsubishi Electric to End Large Power Transformer Production in U.S.
Tokyo, Dec. 16 (Jiji Press)--Mitsubishi Electric Corp. <6503> said Monday that it will stop producing large power transformers in the United States in February 2020.
The move reflects a shift in demand to midsize power transformers and the increased use of renewable energy, the Japanese company said.
Mitsubishi Electric will sell its power transformer factory in Tennessee to Hyosung Heavy Industries Corp. of South Korea for some 5 billion yen.
The sale of the plant, which started operations in April 2013, is expected to be completed around mid-February next year.
After the sale of the plant, Mitsubishi Electric will export large power transformers to the United States from a factory in Ako in the western Japan prefecture of Hyogo.
[Copyright The Jiji Press, Ltd.]