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Beijer Electronics AB and Mitsubishi Electric Corp Sign Cooperation Agreement and Agree on Beijer Electronics' Repurchase of Mitsubishi Electric's Stake in Beijer Electronics' Automation Business Area

Friday, 5 Apr 2013 07:00am EDT 

Beijer Electronics AB announced that the Company and Mitsubishi Electric Corp have signed a three year cooperation agreement building upon a 30 year relationship. This confirms Beijer Electronics as Mitsubishi Electric's preferred partner in the Nordic countries and the Baltic states. Additionally, Beijer Electronics and Mitsubishi Electric have agreed to the repurchase of Mitsubishi Electric's 15% minority shareholding in Beijer Electronics' business area Automation. The repurchase is in line with Beijer Electronics' strategy to become an independent supplier of user-friendly automation solutions on a global basis.