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Mitsubishi Electric celebrates
a decade of success in the Russian market
April 29, 2008
Source: Mitsubishi
Mitsubishi Electric Europe B.V. recently
celebrated a decade of business in Russia and the CIS countries
with a party to mark the 10th anniversary of the opening of
its Moscow office.
Mitsubishi Electric's Moscow presence began in December 1997,
initially as an exploratory venture to research the viability
the local markets for its air conditioning systems. Ten years
on, and the Russian arm of the Japanese engineering giant
has proved exceptionally successful; not just in air conditioning,
but across a wide range of Mitsubishi Electric products, including
industrial automation systems, power semiconductors, and its
extensive range of AV display products such as display wall
cubes, LCD panels, projectors and LED screens.
Driven by high levels of government investment in the nation's
municipal infrastructure, sales of display wall systems, LCDs
and projectors have experienced explosive growth over the
last five years. In that period, Mitsubishi has supplied control
room display systems to an impressive number of installations,
such as the St. Petersburg Situation Centre, Moscow's main
traffic control facility and its municipal water authority.
Quality and wide choice of the latest professional-grade display
technologies have been key factors in its success.
"Mitsubishi Electric Europe pays a great attention to
expanding its product line and introducing the latest models
to the fast-growing Russian market", commented Shunji
Kurita, general manager for strategic planning and corporate
communications of Mitsubishi Electric Europe B.V. He continued,
"Outstanding technology and superior quality are hallmarks
of Mitsubishi Electric products. But along with this, the
company pays special attention to delivering a high level
of service and qualified after-sales support through our distribution
network in Russia."
Such attention to the market has delivered impressive results.
This financial year, the value of imports of Mitsubishi Electric
products to the Russian market will exceed €75m - over
3.5 times more than in 2002. In the next few years, the company
expects annual sales growth in Russia to be around 15%. "The
market continues to show high growth rates and has good potential
for further development", said general director of the
Moscow representative office, Noritsugu Uemura. The company's
upbeat assessment of Russia's continued economic development
is based on the resurgence of Russian manufacturing industry,
its remarkable construction boom and strong revenue growth
from its energy industry.
In October last year, Mitsubishi Electric committed further
resources to growing the Russian market with the opening of
a second branch office in Yekaterinburg. The new Ural office
serves as a regional hub to promote and support Mitsubishi
products in the area. Overall, Mitsubishi Electric now has
a network of over 50 distributors serving Russia and the CIS
states of Armenia, Azerbaijan, Byelorussia, Georgia, Kazakhstan,
Moldova and Ukraine.
Following the meteoric rise in sales of its display wall,
projection and LCD products, Mitsubishi's Diamond Vision LED
screens are also beginning to penetrate the Russian market,
with recent project wins including systems for football stadiums
and corporate reception areas. Current indications are that
the next decade could prove even more successful for Mitsubishi
than the last.
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