Targeting 470 billion JPY in sales by 2016
Mitsubishi Electric Corporation (
In
With the launch of the new NEXIEZ series elevators this year, Mitsubishi Electric will also expand sales in regions such as the Middle East, South and
By 2016, the company will also seek to enter 20 other markets including those in South America and
Although a surge in demand for new products is not expected in
Mitsubishi Electric will aim to strengthen its position as the market leader especially in
Due to the recent global economic turndown, the building construction market had been quite stagnant worldwide. Global market volume of elevators and escalators, however, is expected to grow by 30% to 630,000 units in the fiscal year ending March 31, 2016, owing to recovery mainly in
There is also an increasing demand for elevators and escalators that are more energy efficient and have lower impact on the environment, in addition to growing demands for improvements in product safety, comfort and efficiency. With the global market structure changing and competition becoming intense, Mitsubishi Electric has set its product, marketing and sales tactics so that it will best suit demands in each market in order to strengthen global operations. To fulfill the various market requirements worldwide, the company is also in the midst of developing the world’s fastest elevators.
About Mitsubishi Electric’s elevators and escalators business
Mitsubishi Electric’s production of elevator components started in 1931, and until now the company has, as the leading elevator/escalator manufacturer in
Inazawa Works, located in Inazawa City of Aichi Prefecture,
The 173 meter-high elevator testing tower “SOLAÉ”, which was built on the grounds of Inazawa Works in 2007, is used for R&D of high-speed and large-capacity elevators for super-high rise buildings. Mitsubishi Electric endeavors to continue its efforts in providing safe, comfortable and highly efficient elevators and escalators.
About Mitsubishi Electric
With over 85 years of experience in providing reliable, high-quality products to both corporate clients and general consumers all over the world, Mitsubishi Electric Corporation (TOKYO:6503) is a recognized world leader in the manufacture, marketing and sales of electrical and electronic equipment used in information processing and communications, space development and satellite communications, consumer electronics, industrial technology, energy, transportation and building equipment. The company recorded consolidated group sales of 3,353.2 billion yen (US$ 36.1 billion*) in the fiscal year ended March 31, 2010. For more information visit http://www.MitsubishiElectric.com/
*At an exchange rate of 93 yen to the US dollar, the rate given by the Tokyo Foreign Exchange Market on March 31, 2010
Contacts
Customer Inquiries:
Mitsubishi Electric Corporation
Overseas Marketing Division, Building Systems Group
Shiho Mori, +81-3-3218-3583
Mori.Shiho@dy.MitsubishiElectric.co.jp
http://www.Mitsubishi-Elevator.com
Media Contact:
Public Relations Division
Yurika Fujimoto, +81-3-3218-3380
prd.gnews@nk.MitsubishiElectric.co.jp
http://www.MitsubishiElectric.com/news/