Mitsubishi Electric’s Subsidiary Acquires Elevator Distributor UNIHEIS

- Advertisement -

UNIHEIS is in the sales, maintenance and installation of elevators as a Mitsubishi Electric distributor since 1985 in Norway

In a recent news update, a Sweden-based wholly-owned subsidiary of Mitsubishi Electric, Motum AB formally agreed to wholly acquire Norway-based UNIHEIS AS, which operates an elevator business as a distributor of Mitsubishi Electric products. As the demand for maintenance and renewal of elevators and escalators is expected to increase in Europe, and Mitsubishi Electric is aiming to expand its business in the European market, the decision to acquire UNIHEIS, which mainly operates in Norway, is considered to be in the right direction. It is noteworthy that Mitsubishi Electric identified the building systems business as one of its key growth areas in its medium-term growth plan through 2025, and therefore established MEBS in April 2022.

The official statement read that Mitsubishi Electric and Mitsubishi Electric Building Solutions Corporation (MEBS) plan to respond to the needs of the market by strengthening the business structure through this acquisition and providing services designed to solve their customers’ problems with Motum making optimal use of UNIHEIS’s expertise in handling Mitsubishi Electric elevators.

- Advertisement -

It is learnt that UNIHEIS is in the business of sales and installation of new elevators and maintenance as a Mitsubishi Electric distributor since 1985. The company noted that the acquisition of UNIHEIS and unifying UNIHEIS’s management with Motum are ways to strengthen the foundation of the elevator and escalator business in Europe. It was further mentioned that Mitsubishi Electric and MEBS will expand their business with Motum by gaining and making optimal use of UNIHEIS’s assets and expertise in the installation, sales and maintenance of Mitsubishi Electric elevators.

Over a century-old Japanese company, Mitsubishi Electric Corporation is an established global player 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. Found in April 2022, MEBS is its new consolidated subsidiary that was established through an absorption-type merger between Mitsubishi Electric Corporation’s building systems business and Mitsubishi Electric Building Techno-Service Co., Ltd. (MELTEC).


 

- Advertisement -

Most Popular Articles

LEAVE A REPLY

Please enter your comment!
Please enter your name here
Captcha verification failed!
CAPTCHA user score failed. Please contact us!

Exclusive

“AIC-T-Hub Aims To Grow Startups So More Indian Unicorns Can Contribute To The GDP”

0
T-Hub has collaborated with Atal Incubation Centre (AIC), initiated by the Atal Innovation Mission to incubate semiconductor startups, fostering innovation for India’s advancement in...

Pros And Cons: Boult’s Varun Gupta On Contract Electronics Manufacturing

0
While contract electronics manufacturing is not a new concept in India, it has lately picked up a pace never seen before. But what has...

Crompton Greaves Starts Kitchen Appliance Manufacturing In Vadodara

0
This move aims to boost product quality and operational efficiency, enhancing the delivery of innovative, high-quality kitchen solutions to meet growing consumer demands. Crompton Greaves...

Buzz

ASUS IoT And BRESSNER Technology Launch CTOS

0
The collaborative approach seamlessly integrates advanced features across CTOS solutions, fostering synergy. ASUS IoT has recently unveiled a strategic collaboration with BRESSNER Technology, aiming to...

Samsung Appoints Veteran Amid AI Chip Challenges

0
This shake-up, effective immediately, sees Young Hyun Jun transitioning from his role in future business planning to tackle the booming demand for high-end AI...

Imec-Led European Labs To Get $2.7B From Chips Act Funding

0
Europe's chip revolution gains momentum with a €2.5 billion investment in cutting-edge pilot production line for sub-2nm technologies, aiming to elevate domestic production and...

Important Sectors

Samsung Appoints Veteran Amid AI Chip Challenges

0
This shake-up, effective immediately, sees Young Hyun Jun transitioning from his role in future business planning to tackle the booming demand for high-end AI...

Imec-Led European Labs To Get $2.7B From Chips Act Funding

0
Europe's chip revolution gains momentum with a €2.5 billion investment in cutting-edge pilot production line for sub-2nm technologies, aiming to elevate domestic production and...

Progress And Challenges In Autonomous Commuting

0
Despite over a decade of technological advancements and testing in cities like Phoenix and San Francisco, robotaxis still faces significant hurdles.  Companies like Waymo, Cruise,...

New EV Policy Offers Incentives For Plant And Machinery Investments

0
Investments in creating physical infrastructure such as plants, machinery, charging stations, and other assets developed or acquired by companies will qualify for incentives under...

Dr Yashodhan Gokhale Joins JSW Energy As VP

0
Interestingly, he had started his professional innings in the role of a Research Chemist with Sudarshan Chemical Industries Dr Yashodhan Pramod Gokhale has joined JSW...

Manufacturing

Imec-Led European Labs To Get $2.7B From Chips Act Funding

0
Europe's chip revolution gains momentum with a €2.5 billion investment in cutting-edge pilot production line for sub-2nm technologies, aiming to elevate domestic production and...

EVR Motors Discusses Tech Sharing With Indian OEMs

0
The Israel-based EVR Motors designs Radial Flux Permanent Magnet (RFPM) motors and licenses this technology for manufacturing by OEMs and component makers. EVR Motors, an...

Automotive Electronics Industry Growth Prospects And Strategies

0
From electric vehicles (EVs) to autonomous vehicles, discover the challenges, key players, and market segments driving a $136 billion industry revolutionising vehicles and the...
Siemens and CSA

Siemens To Sell Innomotics To KPS For $3.8B

0
Siemens chief financial officer Ralf Thomas expressed his pleasure at the significant progress made in optimizing their portfolio through the sale of Innomotics to...
Siemens and CSA

Siemens Limited Announces ₹1000 Crore Capex

0
In a statement, Siemens announced that it is expanding its factory operations in Goa to address the rapidly growing demand for essential industry components. Siemens...