Bangalore, April 28, 2014 (Business Wire) - AEG Power Solutions, a global provider of power electronics systems and solutions for industrial power supplies and renewable energy applications, today announced that it has sold its Indian subsidiary, AEG Power Solutions India Pvt Ltd to Toshiba Mitsubishi-Electric Industrial Systems Corporation (TMEIC), based in Tokyo, Japan, who is expanding its activities on the Indian domestic market.

AEG PS's Indian facility is mainly focused on solar inverters manufacturing for the Indian market. The state-of-the-art 80,000 sq.ft production site in Bangalore has a capacity to manufacture products generating 400 MW per year. The business sold involves both manufacturing and sales and represents annual revenues of