Hyosung Heavy Industries to acquire Mitsubishi Electric's transformer plant in Memphis for $46.5M

Hyosung Heavy Industries agreed to buy Mitsubishi Electric Power Products' industrial transformer plant in Memphis, Tennessee for $46.5 million. The acquisition will establish a local production base for Hyosung in the U.S. market.

“Hyosung said it would secure a local production base to cope with growing demands for U.S. power equipment and intensifying protectionism.”ajupress.com

• 1 source
• ajupress.comHyosung agrees to acquire Mitsubishi Electric's transformer plant in Memphis for $46.5 mln | Aju PressLim Chang-wonDec 16, 2019

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