Toshiba, Mitsubishi, GE venture spots gains in automation

TMEIC GE, the alphabet-soup engineering firm formed through a joint venture between Japan’s Toshiba, Mitsubishi-Electric Corporation and American giant General Electric, is hoping to earn $125 million, or about `550 crore, every year by 2015 from its Indian operations, according to Dale T Guidry, president & chief executive.

TMEIC GE makes, among other things, motors and industrial drives, which are used to control the speed of the motors. It is also into automation systems.

The company, which has had an Indian branch office in Hyderabad since 2007, is close to setting up its wholly owned subsidiary, TMEIC Industrial Systems India Pvt Ltd in the country.
TMEIC GE, has an agreement with Bangalore-based TD Power through which the latter produces motors used in the making of steel etc, using the former’s technology.

Guidry said TD Power Systems had just made a prototype and should start production next year at its facility in Bangalore.
“We already have some export orders,” he said.

The company is now looking for an Indian partner to make industrial drives, which are used to control the speed of motors, here. “In five years, India will contribute 5% to TMEIC’s global revenues,” Guidry said.

TMEIC is the mothership venture between Toshiba and Mitsubishi, with over $2 billion annually.

In India, TMEIC GE also has an agreement with L&T for control system solutions in the metal & paper industries.

Declan Daly, managing director, metals, TMEIC GE, said the size of orders in India ranged from half a million dollars to $85 million.
Guidry did not disclose the company’s investment plans for India but said it would ramp up its research & development (R&D) operations in the coming years.