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 jointly used in the process of making small, precision electronics parts, it said in a statement.
Demand for linear servo systems is growing thanks to rising demand for speedy and highly precise processing machines needed to make semiconductors, flat panel displays and lithium-ion batteries among other devices on the back of the spread of small, highly functional smartphones and electric vehicles globally, the statement said.
In a bid to expand a market share in the linear servo system segment, Mitsubishi Electric joins hands with Akribis to initially further penetrate the Chinese market, where the Singapore firm “has a high market share in the linear stage segment,” Hayasaka said. (NNA/Kyodo)