FINLAND: Mitsubishi Electric Corp has acquired a 34% stake in EKE Group’s train automation and management systems business EKE-Electronics.
The companies have also entered into a wide-ranging co-operation agreement. This gives EKE-Electronics access to fast-growing markets as well as resources for further development, and the ability to offer ‘a broader and more strategic’ portfolio with the potential integration of EKE-Electronics’ train control and management systems with Mitsubishi Electric’s propulsion systems.
‘Mitsubishi Electric is a global leader in the train systems market, and in co-operation with them we can grow faster and get access to new customers, especially in the Asia-Pacific area and the USA’, said EKE-Electronics CEO Marko Mäkinen on June 2. ‘We have highly complementary geographical strengths: Mitsubishi Electric’s main markets have been the USA and Asia, including the Indian subcontinent, while EKE-Electronics has traditionally been a strong player in Europe, Australia, and China.’
Mitsubishi Electric gains access to EKE-Electronics’ intelligent TCMS and remote condition monitoring systems, as well as the Finnish company’s ‘fast and agile’ product development and project management capabilities.
‘EKE-Electronics’ Trainnet TCMS and SmartVision RCMS products are widely recognised for their innovative features and flexible architecture’, said Hideki Fukushima, Group President, Public Utility Systems Group, at Mitsubishi Electric.
EKE-Electronics will continue under its current management, and R&D activities will remain in Finland. Chair of the board Riitta Ekengren said ‘the investment and minority ownership of a global leader gives EKE-Electronics additional capabilities but lets the company remain firmly independent and in Finnish control’.