Mitsubishi Electric Corporation (TOKYO:6503) announced today that it will partner with Visual Components headquartered in Espoo, Finland in a joint venture company, named ME Industrial Simulation Software Corporation, to develop and sell 3D simulators for manufacturing applications. Mitsubishi Electric and Visual Components will hold 70% and 30% stakes respectively in the company, which will begin operating on November 1.
Through the new company, Mitsubishi Electric plans to enhance its digital twin platform for circular digital-engineering business solutions. Visual Components' software is compatible with Mitsubishi Electric’s factory-automation (FA) products thanks to standard functions for connecting with PLCs and robots as well as interfaces for expanding the functionality of 3D simulators. By combining Mitsubishi Electric’s advanced control technology and manufacturing expertise with Visual Components' technology, the JV is expected to further strengthen the functionality and services of Mitsubishi Electric's "MELSOFT Gemini" 3D simulator, which customers use to overcome labor shortages, improve productivity and upgrade the quality of their manufacturing.
The JV's development base in Finland will enable it to fully leverage Visual Components' development expertise in order to verify device control using 3D simulators, upgrade design efficiencies through control-logic generation, and improve productivity through the utilization of extensive manufacturing data. Furthermore, the customized-solution capabilities of Visual Components' sales engineers will enable Mitsubishi Electric's FA Systems business to better meet the diverse manufacturing needs of customers, particularly in Japan and other Asian markets where Mitsubishi Electric’s presence is particularly strong.
Source: Yahoo Finance