OSLO: Mitsubishi Electric Corporation announces that its European subsidiary, Mitsubishi Electric Europe B.V., has completed the integration of its former air conditioning distributor MIBA AS, acquired in July. In addition, from October 2015, the company will expand beyond air conditioning by promoting other businesses, like Factory Automation, in the Norwegian market.
This news marks a significant milestone for Mitsubishi Electric in Norway as it establishes a presence in the country under its own name, strengthening its market position through contributing to the overall energy saving ethos of Norway, which is akin to its own, as well as providing energy and resource efficient products.
Prior to its integration, MIBA AS had been selling Mitsubishi Electric air conditioning equipment in Norway for almost 25 years, steadily entrenching its market position with strong technical expertise and customer friendly after-care service. Mitsubishi Electric acquired MIBA AS for these reasons, in addition to its extensive sales knowledge and local sales network.
The Norwegian air conditioning market has expanded in recent years in response to increased demand for low energy consumption air conditioning systems. Furthermore, it is expected that demand for hot water heat pumps will also increase.
Mitsubishi Electric Europe B.V. establishes its Norwegian Branch by bringing MIBA into the fold with a purpose of further expansion of its air conditioning business in Norway.
With over 90 years of experience in providing reliable, high-quality products, 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. Embracing the spirit of its corporate statement, Changes for the Better, and its environmental statement, Eco Changes, Mitsubishi Electric endeavors to be a global, leading green company, enriching society with technology.
