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Mitsubishi Electric Makes 19.9% Equity Investment in ICONICS
Posted October 4, 2011
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Strengthening factory and process automation solutions, targeting US$130m in sales to infrastructure projects in emerging markets
TOKYO--(BUSINESS WIRE)--Mitsubishi Electric Corporation (TOKYO:6503) announced today that Mitsubishi Electric Automation, Inc., its 100% subsidiary selling industrial automation equipment in the U.S., has made a 19.9% equity investment in the U.S. software company ICONICS to enable Mitsubishi Electric to incorporate ICONICS' supervisory-control and data-acquisition (SCADA) software in factory and process automation solutions primarily for new social infrastructure opportunities in emerging markets.
Mitsubishi Electric will also work with ICONICS to develop and market energy management and control solutions for factory and process automation applications in key emerging markets, such as China, Southeast Asia, India and Brazil, which are rapidly developing infrastructure for ground and air transportation, water and waste water treatment, building facilities and more.
The company expects sales of factory automation solutions for infrastructure projects in emerging markets to reach 10 billion JPY, or about 130 million USD, in the fiscal year ending in March 2014.
About ICONICS, Inc.
ICONICS Inc, headquarter in Foxborough, MA, is a leading software developer of HMI/SCADA, Manufacturing Intelligence, Building Automation and Energy Management solutions for industrial and facility automation systems which improve productivity, reduce integration time, optimize asset utilization and reduce overall operating costs.. Founded in 1986, ICONICS has over 250,000 installations in more than 60 countries worldwide. ICONICS with its flagship GENESIS64TM, GENESIS32TM, BizVizTM, Hyper HistorianTM, MobileHMI and AnalytiXTM products meets demanding application challenges of the automotive, building automation, food and beverage, government infrastructure, manufacturing, petrochemical, pharmaceutical, renewable energy, utilities and water/wastewater industries. For more information visit the www.iconics.com.
About Mitsubishi Electric Automation, Inc.
Mitsubishi Electric Automation, Inc., in Vernon Hills, Ill., offers a comprehensive line of factory automation solutions. Products include programmable automation controllers, programmable logic controllers, human machine interfaces, AC variable frequency drives, servo amplifiers and motors, motion controllers, control software, computerized numerical control systems and robots. For a broad range of factory automation applications, visit the Mitsubishi Electric Automation web site at www.meau.com
About Mitsubishi Electric Corporation
With 90 years of experience in providing reliable, high-quality products to both corporate clients and general consumers all over the world, Mitsubishi Electric Corporation (TOKYO:6503) is a recognized world leader in the manufacture, marketing and sales of electrical and electronic equipment used in information processing and communications, space development and satellite communications, consumer electronics, industrial technology, energy, transportation and building equipment. The company recorded consolidated group sales of 3,645.3 billion yen (US$ 43.9 billion*) in the fiscal year ended March 31, 2011. For more information visit http://www.MitsubishiElectric.com.
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