Mitsubishi returns to making money at its Valencian plant, its oldest subsidiary outside Japan

In 2018, Valencian President Ximo Puig took advantage of an institutional trip to Japan to hold meetings with several companies from that country interested in the Valencian Community, with the focus on the search for new investments for the ever-mediatic automotive sector.

Among the headquarters of the corporations he visited was the industrial giant Mitsubishi. After the meeting Puig assured that the Japanese company “had real interests in investing in the Valencian Community”. Surprising words considering that the Japanese industrial corporation has its own factory just a few kilometers from Valencia, the current Mitsubishi Materials España (MME). The first company that the Mitsubishi group set up outside its own country in 1974 and which is about to celebrate its half-century of life.

This subsidiary of the Japanese group is engaged in an activity considered much less glamorous than automobiles or aeronautics. It is dedicated to the production of machine tool equipment, which includes products such as carbide drills, plates and milling cutters, as well as bearings and other custom-made metal components, a sector in which the Japanese giant is present as one of the major suppliers of equipment for the most specialized industry.

Although Mitsubishi’s Materials division does not have the fame of its engine, car or aircraft factories, the fact is that its products are also essential for the manufacturers of such equipment. In fact, the drills produced at MME’s facilities in Museros (Valencia) are aimed especially at the automotive plants and suppliers themselves, as well as the aerospace and shipbuilding industries and highly specialized niches in the health sector, such as the oral and dental sector.

After being affected by the pandemic and the problems in the supply chain and the increase in the price of raw materials, the activity of the Valencian plant of the Japanese group has recovered part of its activity volumes and managed to increase its sales by nearly 30%, to over 29.2 million euros, during its last fiscal year closed in March 2022.

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