News Releases 2012MEIDEN will enter into Myanmar Market via Transformer Business - Signed a Technical Transfer Agreement with AGE and MoU on its Equity Investment jointly with Metal One
Tokyo – December 15, 2012 - Meidensha Corporation (“MEIDEN”) (Tokyo Stock Exchange Stocker: 6508、President & C.E.O. Junzo Inamura) today announced MEIDEN signed a technical transfer agreement with a Myanmar transformer manufacturing and sales company, Asia General Electric Co., Ltd. (“AGE”) on power transformer design, manufacturing and repair. MEIDEN also signed the Memorandum on Understanding (“MoU”) for the study of equity investment to AGE together with Metal One Corporation (“Metal One”), a leading steel trading house in Japan. If the equity investment is made, it will be the first case of equity investment from Japan to a power infrastructure-related company in Myanmar.