TMEIC Purchases GE Energy’s Ownership Interest

Toshiba Mitsubishi-Electric Industrial Systems Corp. (TMEIC) and General Electric Co. (GE) have reached an amicable agreement to separate their industrial drive systems joint venture, TMEIC GE, to reflect changes in business strategies within both organizations. As a result, TMEIC has purchased GE Energy’s ownership interest in TMEIC GE. TMEIC GE will become TMEIC Corp., headquartered in Roanoke, Virginia, USA. It is a wholly-owned U.S. subsidiary of Toshiba Mitsubishi-Electric Industrial Systems Corp., a Japanese manufacturer of large industrial motors and drives. Both companies are working to support implementation continuity on current projects.