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Article: MITSUBISHI ELECTRIC INVESTS US$1.3 MLN IN ELEVATOR FIRM.
- Article from:
- AsiaPulse News
- Article date:
- October 18, 2002
CopyrightCOPYRIGHT 2002 Asia Pulse Pty 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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TOKYO, Oct 18 Asia Pulse - Mitsubishi Electric Corp. (6503) and group firms have invested in a Chilean elevator sales company, which will serve as a sales base for Mitsubishi Electric elevators in South America.
By bolstering sales efforts in South America, Mitsubishi Electric aims to expand its share in the South American elevator market, which is dominated by U.S. and European manufacturers.
Mitsubishi Electric and group companies invested 160 million yen (US$1.3 million) in HeavenWard Ascensores. HeavenWard Ascensores is now capitalized at 1.64 billion Chilean pesos, or roughly 330 million yen. Mitsubishi Electric and Mitsubishi Electric ...