Mitsubishi Electric, ABB form joint venture for power distribution business

T2Covered by 1 source · first reported by DigiTimes (headlines) at 24 Oct, 01:44 UTC

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…