# 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.

- Type: Acquisition
- Announced: 2019-12-16
- Where: Memphis, Tennessee, United States
- Value: $46.5M
- Status: announced
- Products: industrial transformers, core-form power transformers
- Sectors: [Electrical Equipment](https://endata.com/sectors/electrical-equipment.md)

## Companies

- [Hyosung Heavy Industries](https://endata.com/companies/5898.md) (acquirer)
- [Mitsubishi Electric Power Products](https://endata.com/companies/43280.md) (target)

## Sources

- [ajupress.com](https://www.ajupress.com/view/20191216101302297), 2019-12-16: "Hyosung said it would secure a local production base to cope with growing demands for U.S. power equipment and intensifying protectionism."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.