Mitsubishi Electric and Movensys form Alliance to Expand AC Servo and Motion Control Businesses

Mitsubishi Electric Corporation (Headquarters: Chiyodaku, Tokyo, President and CEO: Kei Uruma, "Mitsubishi Electric") and MOVENSYS Inc. (Headquarters: Seongnam, Gyeonggi-do, Korea, CEO: Pyongwon Pak/Japan Corporation: Tachikawa, Tokyo, "Movensys") jointly announced today that they have entered into a business partnership to strengthen collaboration in their respective AC servo and motion control businesses. As part of the agreement, Mitsubishi Electric is proceeding to take an equity stake in Movensys.