Beijer Electronics and Mitsubishi Electric part ways

Regulatory News:

After more than thirty years of cooperation, Mitsubishi Electric and Beijer Electronics (STO:BELE) have decided to part ways, this due to marked differences between the companies’ respective strategies going forward. This means that the present Distributor Agreement will not be renewed, but will terminate as per contract at year-end 2015.

Beijer Electronics sales of Mitsubishi Electric products amount to approximately 150 MSEK annually. As a consequence of the lost volume, Beijer Electronics has to restructure its Nordic organization, which will affect approximately 50-60 FTEs, of which 20-30 are in Sweden.

It is Beijer Electronics’ ambition to terminate the cooperation with Mitsubishi Electric in the same professional spirit that has been prevalent throughout the 33 years we have been working together. In consideration of our long cooperation—and our common customers—we have therefore initiated a detailed plan that has as its purpose to ensure a smooth transition.

Up and to December 2015, Beijer Electronics will continue selling Mitsubishi products to the same extent we do today.

Beijer Electronics is a fast growing technology company with extensive experience of industrial automation and data communication. The company develops and markets competitive products and solutions that focus on the user. Since its start-up in 1981, Beijer Electronics has evolved into a multinational group present in 19 countries and sales of 1,402 MSEK 2014. The company is listed on the NASDAQ OMX Nordic Stockholm Small Cap list under the ticker BELE. www.beijerelectronics.se

This information was brought to you by Cision http://news.cision.com

View source version on businesswire.com: http://www.businesswire.com/news/home/20150612005160/en/