Mitsubishi plant seeks joint venture partners for its power transformer division

US, Memphis: Joe Durante, general manager of the Mitsubishi plant is pursuing to increase volume of the business in multiple ways — including, possibly, a sale of the Memphis plant.

“We’re out searching for partners. That could be technology; it could be a joint venture; and a joint venture could lead to a sale,” Durante said. “It’s strictly an internal business decision. … Everything is on the table.”

The joint venture would only include the company’s power transformer division, which is based in Memphis, Durante said.

Source: Biz Journals