Mitsubishi Electric acquires Pune's Messung Group
23 Jan 2012
Japanese engineering group Mitsubishi's Indian subsidiary Mitsubishi Electric India Pvt. Ltd.is acquiring Pune-based Messung Group
The two companies have announced today that they have signed a business transfer agreement to merge the operations of the Messung Group with Mitsubishi Electric India.
Established in 1981, Messung pioneered the first indigenous PLC in India in competition with multinationals in an era with strict import restrictions and a closed market.
Taking advantage of the opening of the market in India in 1995, Messung became a distributor for Mitsubishi Electric FA products in India.
The acquisition will allow Mitsubishi Electric to accelerate its industrial automation systems business in India, which is expected to grow by more than 10 per cent annually, and strengthen local sales and solutions, with a sales target of 15 billion yen by the fiscal year ending March 2016.
The Messung Group has built strong relationships in industries like automotive, printing, textile, pharmaceutical and food and beverage industries by providing technical support and solutions to industrial automation equipment manufacturers, which Mitsubishi Electric India expects to leverage.
The business transfer agreement signed by the two Mitsubishi and Messung in December 2011 is expected to be completed by the end of March 2012 to finalise the acquisition.
The merged business will commence operations in April.
.webp)
