FOR IMMEDIATE RELEASE No. 3049

Mitsubishi Electric to Open New Elevator Plant in India

Will launch elevator production in world's second largest market

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TOKYO, September 13, 2016 - Mitsubishi Electric Corporation (TOKYO: 6503) announced today that Mitsubishi Elevator India Private Limited (IMEC) will commence production of elevators at a new factory in Bangalore on September 15. The company aims to strengthen its product competitiveness in India, the world's second largest market for elevators and escalators according to its own research as of September 2016, and is targeting annual sales of 5,000 units by the fiscal year ending March 2021.

Details of New Factory
Location Bangalore, Karnataka State, India
Site area 89,000 square meters
Floor space 25,400 square meters
Purpose Manufacture of elevator equipment
Start of Operation September 15, 2016
Production capacity 5,000 units annually
Investment 1.833 billion Indian rupees (approx. 3.45 billion yen)
Employees Approx. 100 (as of September 2016)
Additional facilities Elevator testing tower (approx. 41 meters high), and field-training center

Aims of New Factory

1)
Improved competitiveness through local production
The establishment of local production facilities will allow IMEC to improve product competitiveness through lower prices and faster delivery times. They will focus on the NEXIEZ-LITE elevator model, which is designed for low- to mid-rise buildings, a key market in India. IMEC also plans to integrate manufacturing, installation, sales and maintenance in order to achieve greater efficiency and improve service levels.
2)
Enhanced safety and quality using elevator-testing tower and field-training center
IMEC will carry out verification and evaluation of locally procured parts using a new elevator-testing tower. They will additionally utilize a new field-training center to enhance installation and maintenance service levels, thereby reinforcing the Mitsubishi Electric brand.