Japanese giants set up Thai unit on rising demand
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Toshiba Mitsubishi-Electric Industrial Systems Corporation (TMEIC), a producer of industrial motors and solar power inverters, has set up a subsidiary in Thailand, eyeing US$20 million in revenue by 2017.
TMEIC was founded in 2003 as a joint venture between major Japanese industrial conglomerates Toshiba and Mitsubishi Electric Corporation. It now has business in 10 countries including the USA India and China.
