Matsushita, Mitsui to Join Chinese Building Engineering Business

Matsushita Electric Works, Ltd. (MEW), a major electronics manufacturer in Japan, and Mitsui & Co., a leading Japanese trading company, have reached an agreement to jointly invest in Beijing Tsinghua Tellhow Intelligence Tech, Ltd. (BTTIT), a Tellhow Group member company specialized in building engineering in China, in order to develop a full-scale building energy-saving engineering business in China. A signing ceremony was held in Beijing after the two companies accepted a 29.8 percent share of BTTIT from the Tellhow Technology Group Co., Ltd.

In order to attain leadership in the industry, MEW and Mitsui plan to merge the engineering business of the Tellhow Group into BTTIT. The Tellhow Group has a distinguished record in building government facilities. MEW and Mitsui intend to combine Mitsui's environmental business know-how and MEW's state-of-the-art lighting control, electric power monitors and control systems with the conventional air conditioning control systems that BTTIT had been developing.

Although many manufacturers have already started introducing air conditioning systems into China, they are yet to take on energy-saving measures in the areas of controlling lighting and other power systems, which consume the second largest amount of electricity after air conditioning systems.

http://www.mitsui.co.jp/en/release/2006/1175675_1210.html

Posted: 2006/12/18 07:01:13 AM
Japanese version