Mitsubishi Electric to acquire a 70% stake in Fuji Bakelite Vietnam from Fuji Bakelite.

Mitsubishi Electric, a manufacturer of electrical and electronic products, agreed to acquire a 70% stake in Fuji Bakelite Vietnam, a small low-voltage circuit breakers manufacturer, from Fuji Bakelite, a plastics manufacturer. Financial terms were not disclosed. The new joint venture company, to be named Mitsubishi Electric FP Automation Vietnam, will be established on June 1 and will begin production of air circuit breakers from January 2025, in addition to the current company’s existing line of small low-voltage circuit breakers.