Tokyo, Japan— Mitsubishi Electric Corp. and Toshiba Corp. recently unveiled their new joint venture company, which will integrate their businesses in industrial electric and automation systems for manufacturing plants. The 2,200-employee company, tentatively named Toshiba Mitsubishi-Electric Industrial Systems Corp., was scheduled to begin operations on Oct. 1, 2003.

The Tokyo-based joint venture handles sales, engineering, installation and servicing of industrial electric and automation systems. These include industrial supervisory control, drive and power distribution systems used in steel, pulp and paper, petrochemical, automobile, food and other manufacturing plants.

The partners say their new company integrates assets of the relevant divisions of each partner, and positions the new entity as a leading system integrator in industrial electric and automation systems. These include TMA Electric Corp., another joint venture by Mitsubishi and Toshiba for large capacity motors, and Toshiba GE Automation Systems Corp., which is a Toshiba subsidiary in Japan. In addition, GE Toshiba Automation Systems LLC, presently a U.S. joint venture between Toshiba and General Electric Co., has become a subsidiary of the new company.