Mitsubishi Electric exploring buyout of its Memphis plant


FILE – This Feb. 14, 2019, file photo shows the Mitsubishi logo on the front grill of a 2019 Mitsubishi Outlander GT on display at the 2019 Pittsburgh International Auto Show in Pittsburgh. Mitsubishi Motors on Tuesday, June 25, announced it is relocating its North America headquarters from California to Tennessee, a move that will bring the Japanese automaker closer to its sister company Nissan and strengthen Tennessee’s growing reputation as an epicenter of the automotive sector. (AP Photo/Gene J. Puskar, File)

MEMPHIS, Tenn. (AP) — Mitsubishi Electric says it is talking with a potential buyer for its Memphis plant.

Mitsubishi Electric general manager Joe Durante tells The Commercial Appeal the company expects the third-party prospective buyer would hire at least some current Memphis workers. He said the possible buyer has a U.S. presence, but declined to identify it.

The facility opened in 2013, creating buzz as a high-tech game changer for manufacturing in Memphis. The 212-employee plant opened with more than $45 million in state and local tax incentives, and included the company’s head office for its U.S. transformer business.

Durante declined to disclose current Memphis employment totals.

Durante said the Japanese company came across the possible buyer while exploring ways to increase Memphis sales through a joint venture, technology sharing or a sale.

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