Mitsubishi Electric US, Inc. has signed an agreement to acquire the Power Device Distribution Business of Powerex, Inc.

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| Source: Mitsubishi Electric US, Inc.

CYPRESS, Calif., Nov. 08, 2017 (GLOBE NEWSWIRE) -- Mitsubishi Electric US, Inc. announced today it will acquire the power device distribution business of Powerex, Inc., a joint venture of Japan-based Mitsubishi Electric Corporation and General Electric Company. Powerex, headquartered in Youngwood, Pennsylvania, manufactures and supplies power semiconductor devices. The new business unit will operate as a division of Mitsubishi Electric US to service the North and South America markets. The agreement is expected to close in January 2018.

Upon completion, the agreement will transfer the power device distribution business of Powerex from the joint venture to Mitsubishi Electric US. General Electric and Mitsubishi Electric Corporation will maintain equal ownership of Powerex, Inc., which will continue to manufacture power semiconductor devices.

“This agreement strengthens support for our users in the U.S., especially those that manufacture globally,” said Kent Hora, president and CEO of Mitsubishi Electric US. “It also strengthens our technical support of automotive manufacturers in the U.S.”

The new power-devices business unit will be headed by Tony Sibik, who is expected to join Mitsubishi Electric US from Powerex. Kyle Martin will continue in his role as vice president and general manager of the MEUS Semiconductor Division, overseeing TFT and HF-Opto. Ikuo Ogo, who transferred to Mitsubishi Electric US as of October 1 from Mitsubishi Electric Corporation, will be responsible for the management of the three business units after the closing of the agreement.

“We expect the power device distribution business to create synergies with our Semiconductor Division’s existing TFT-LCD modules, high-frequency devices and optical devices,” stated Ogo. “We see North America as a key region for power devices, so this strategic move expands our core semiconductor product offering, while providing tremendous growth opportunities.”

The base of the new organization will be located at the Cypress, California headquarters of Mitsubishi Electric US, while customer service, including field application engineering, will remain in Pennsylvania at a yet-to-be determined location. 

About Powerex, Inc.
Powerex, Inc., a joint venture of General Electric Company and Mitsubishi Electric Corporation, is an electric equipment company that manufactures and supplies discrete devices, modules and integrated high power semiconductor solutions. Its product portfolio includes insulated gate bipolar transistors (IGBT), HVIGBTs, rectifiers, thyristors, power modules, and assemblies. Powerex is headquartered in Youngwood, Pennsylvania.

About Mitsubishi Electric US, Inc. Semiconductor Division
Mitsubishi Electric US, Inc.’s Semiconductor Division offers a portfolio of semiconductor and electronic devices that contributes to the advancement of information processing and telecommunications. The division offers next-generation optical devices that support today's rapidly evolving optical telecommunications networks, high-frequency gallium nitride, gallium arsenide, and silicon RF devices that are used in everything from two-way radios to telecommunications satellites. The division also offers leading-edge TFT-LCD modules for industrial, scientific and medical applications. Most recently the division added contact image sensing (line-scanning) products for machine vision applications, and with the acquisition of the distribution business of Powerex, adds power semiconductor devices to its product offerings. Additional information is available at www.mitsubishielectric.com/semiconductors.

In addition to semiconductor devices, Mitsubishi Electric US group companies’ principal businesses include factory automation equipment, automotive electrical components, elevators and escalators, heating and cooling products, electric utility products, and large-scale video displays for stadiums and arenas. Mitsubishi Electric US group companies have roughly 31 locations throughout North America with approximately 4,000 employees.

Robin Wachner
Director, Corporate Communications
Mitsubishi Electric US, Inc.
Email: robin.wachner@meus.mea.com