Tuesday, October 13, 2015

#TMEIC Japan to invest $60 million in 2yrs; Opens new factory in Tumkur

Toshiba Mitsubishi-Electric Industrial Systems Corporation (TMEIC) of Tokyo, Japan has inaugurated its newly acquired Power electronics factory in Tumkur district of Karnataka.It also plans to invest $60 million in 2 years The company has retained around 150 employees of  AEG from which it acquired the factory.

The company is also building a new greenfield industrial motor manufacturing facility.The new facility is constructed on 21 acres at KIADB Industrial Area in Vasanth Narasapur phase-2, Tumakuru district."It is in advanced stages of completion and will start commercial operations by March 2016.The greenfield motor factory has the capacity to produce 150 motor units per month', said  TMEIC India Managing Director Hemant Joshi.
The industrial motor facility will manufacture large industrial motors of 3000-4000 kw for varied industrial applications in oil and gas, power generation, metals, cement, water and wastewater, chemicals and fertilisers, etc.
TMEIC was formed in 2003 from the merger of the industrial systems departments of Toshiba Corporation and Mitsubishi Electric Corporation. It had revenues of 187,472 million yen in 2013, which is approximately $1.57 billion at today’s rates. The Indian subsidiary of TMEiC started its operations from October 2010.