Mitsubishi Electric to invest in Singapore’s Akribis Systems
SINGAPORE, NNA - Major Japanese electronics and industrial machine maker Mitsubishi Electric Corp. will buy an equity stake in a Singaporean factory automation equipment maker to enhance its product lineup.The company plans to buy shares in Akribis Systems Pte. Ltd., a manufacturer of linear servomotors and linear stages. Mitsubishi Electric spokeswoman Emiko Hayasaka declined to comment on the price and timing of the transaction or the expected shareholding percentage.The Japanese company aims to integrate the Singapore-based firm’s products with a series of its servo systems, which are joint...
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