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TOKYO, Sept. 14, 2001-Mitsubishi Electric Corporation
announced today that it has reviewed its North American mobile
communications structure, and has made a decision to restructure
operations.
Details of Restructuring
- Mitsubishi Wireless Communications, Inc. (MWCI) will be
dissolved on March 31, 2002. Sales, marketing, and distribution
will be continued until that time.
- Mitsubishi Electric's Japanese and European business units
will develop and supply mobile handsets to the North American
market after April 1, 2002.
- Effective April 1, 2002, Mitsubishi Electric & Electronics
USA, Inc. (MEUS) will take over customer support and after-sales
services in the United States.
- All current MWCI employees will be released by March 31,
2002.
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About Mitsubishi Wireless Communications Inc.
(MWCI)
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| Location: |
Duluth, Georgia USA |
| Business Activities: |
Development and sale of mobile handsets |
| Established: |
May 1995 |
| Employees: |
155 (As of August 2001) |
| Capital: |
US$15M |
| Investment ratio: |
Mitsubishi Electric Corp.: 86.7% |
| President & CEO: |
Masumi Kosaka |
| Sales: |
US$246M (2000 JFY) |
About Mitsubishi Electric &
Electronics USA, Inc. (MEUS)
Mitsubishi Electric & Electronics USA, Inc. markets an
extensive line of consumer, commercial and industrial electronics
products, including semiconductor devices; Diamond Vision
stadium display screens; elevators and escalators; home theater
electronics; heating and air conditioning systems; automotive
electronics, and other products. Mitsubishi Electric &
Electronics USA, Inc. is the largest U.S. subsidiary of Mitsubishi
Electric Corporation of Japan. Additional information on Mitsubishi
Electric & Electronics USA, Inc. is available at www.mitsubishielectric-usa.com
About Mitsubishi Electric Corporation
With 80 years of experience in providing reliable, high-quality
products to both corporate clients and general consumers all
over the world, Mitsubishi Electric Corporation (FTSE: 6503q.l)
is a recognized world leader in the manufacture, marketing
and sales of electrical and electronic equipment used in information
processing and communications, space development and satellite
communications, consumer electronics, industrial technology,
energy, transportation and construction. The company has operations
in 34 countries and recorded consolidated group sales of over
US$33BN in the year ended March 31, 2001. Additional information
on Mitsubishi Electric is available at www.mitsubishielectric.com.
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