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Article: Japan : M bishi Elec says demand better but lacks strength.
- Article from:
- TendersInfo
- Article date:
- November 2, 2009
CopyrightCOPYRIGHT 2009 Al Bawaba (Middle East) Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: shiv03
Mitsubishi Electric Corp (6503.T), one of the first Japanese firms to warn of weakening capital spending worldwide, said factory automation demand was shoring up in some areas but that it lacked strength.
Mitsubishi Electric and its rivals Siemens AG (SIEGn.DE) and Rockwell Automation Inc (ROK.N) are waiting for a recovery in spending by manufacturers on robots, lasers, sensors and other equipment used to run their plants.
But the company, which reported its first first-half net loss in a decade, said that while there were "patches of recovery" -- such as in flat panel equipment or in China -- it was assuming that there would be ...