13 Nov Powerex Announcement on Mitsubishi Electric’s Acquisition of Power Device Sales Business
Mitsubishi Electric Corporation announced today that it is acquiring the Mitsubishi power semiconductor distribution business that is currently based at Powerex headquarters in Youngwood, Pennsylvania. That operation is leaving Powerex and will be operated out of the Mitsubishi Electric United States (MEUS) organization based in Cypress, California. Details on the launching of a western Pennsylvania facility to house existing Youngwood resources such as Marketing and Field Applications will be announced very soon. Mitsubishi is consolidating, integrating, and aligning resources in order to better serve global customers in the ever expanding power management markets. Powerex has enjoyed this partnership since 1986 and our colleagues will be greatly missed. This business was developed over 30 years of good partnering and Powerex will continue to work closely with MEUS. Further, Mitsubishi has retained its 50% ownership share in Powerex. The timing and logistics of specific deal mechanisms are being defined at this time. Further announcements on specific activities and key dates in the transfer will be forthcoming in the ensuing weeks. The expectation is that this transaction will be completed early in January of 2018.
Read the full announcement from Powerex here.