Published: December 25, 2012
Press Release
Mitsubishi Electric Establishes Elevator and Escalator Joint Venture in India
TOKYO - (BUSINESS WIRE) - Mitsubishi
Electric Corporation (TOKYO:6503) announced that it has established
a joint venture company, Mitsubishi Elevator ETA India Private Limited,
to sell, manufacture, install and provide maintenance for elevators and
escalators in India. Headquartered in Chennai, the joint venture was
formed with UAE-based ETA Ascon Holding LLC and will start business in
January 2013.
Since 1995, Mitsubishi Electric has distributed elevators and escalators
in India through a local agent, installing its products primarily in the
premium segment including luxury hotels and offices.
To further expand its growing Indian market, Mitsubishi Elevator ETA
India will take over the business of the local agent. In addition to
expanding sales in the premium segment, the new company will enter the
residential segment and others, where the demand for elevators is
showing remarkable growth.
To read the complete release at NewsBlaze,
Mitsubishi Electric Establishes Elevator and Escalator Joint Venture in India,
Click here
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