(dr) Mitsubishi
Mitsubishi Electric will sell its automotive equipment division. It tries to receive around 1.6 billion dollars.
A Mitsubishi Electric Corp. alas sell yours division of automotive equipment. According to , the company is moving forward with a tender to purchase the unit.
The competition is to go ahead now: the manufacturer will accept proposals for the first round until January 26th.
Are you looking for potential buyers: other suppliers of car parts, or funds from private equity – who gather capital from investors to acquire shares in companies.
The sale could yield between 200 billion and 300 billion yen, i.e. between 1,000 million euros and 1,600 million euros.
The automotive parts sector encompasses products such as inverters and motors for hybrid and electric vehicles, as well as vehicle infotainment systems – these are areas that are under severe cost pressure.
One of the reasons for this decision is the global sales of electric vehicles, which are lower than expected. It is becoming increasingly difficult to operate profitably in this sector.
Therefore, Mitsubishi’s objective is dismember the unit, which had sales of 2.3 billion euros between April and September last year; the operating margin was around 5% – compared to an overall margin of 8.2% for the company.
As summarized by , the Japanese electronics giant is gradually withdrawing from the automotive sector.
In fact, almost 2 years ago, Mitsubishi Electric itself admitted that it was thinking about exiting the car navigation systems business.
