Mitsubishi Elevator (Thailand) Press Conference on business direction for the 40th Anniversary

MITSUBISHI ELEVATOR moves into its 40th year anniversary, remains as top dog in elevator and escalator market and maintains world class standard

Bangkok, 20th March, 2017: MITSUBISHI ELEVATOR remains as the leading elevator and escalator market leader for more than 40 years. The company upholds the international safety standard, as evidenced by the company's achievement in obtaining ISO 9001, ISO 18001, and recently, ISO 14001. The firm has recently launched an elevator and escalator training center with an aim of generating professional elevator and escalator engineers and specialists to the market. The center will serve as the first training facility dedicated for vertical transportation education in Thailand. The company is confident that the new center will be a positive factor in developing the transportation sector in the rural area, supporting the fast-expanding aging society, and the government’s policy to promote "Thailand" as a medical hub in the ASEAN Economic Community. The firm also will also push the local elevator and escalator market to grow 5-7 % annually from the current market value of 7 billion baht.

Mr. Munehisa Okamoto
The Managing Director of Mitsubishi Elevator (Thailand) Co.,LTD., the official MITSUBISHI elevators and escalators and service provider, stated that the consumers have placed their confidence in the products of the company which contributed to the success of the company for 40 years. This year, the company will proudly step into its’ 40th year, while maintaining its business principles and prioritizing safety measures and quality. In order to ensure the customer's confidence in the company’s installing and other services, the company employs more than 350 engineers and specialists along with a 24-hour nationwide calling center. The Managing Director also indicated that MITSUBISHI ELEVATOR has invested more than 40 million baht in constructing a new vertical transportation training center on a 1,200-square-meter area Bangna-Trad road. This is the most advanced facility in the Southeast Asia region. It has 4 main training rooms, 7 elevators, and 2 escalators for training exercises. The center also has an exhibition hall for showcasing products. The hall is equipped with an electronic control panel, wall, ceiling, and access control system. The center is part of the company’s initiative to become the regional’s Vertical Transportation training hub.

The training center of MITSUBISHI ELEVATOR main objective is to maintain the international safety standard and high quality of various services related to elevators and escalators such as installing, and after sales services. The target audience of the training center, which offers one whole year curriculum, are engineers and elevator and escalator specialists. The course is also available for engineers and specialists from ASEAN member countries. Furthermore, various public agencies, group of interested engineers and handymen have shown interests in learning about the basic knowledge of elevators and escalators, and related rescue operations, to name a few. More importantly, in the occasion of the company’s 40th anniversary, MITSUBISHI ELEVATOR determines to continue with its long term corporate responsibility activities such as the project promoting the love for hometowns, the Care for Kids Project, the initiative to offer scholarships, and the campaign promoting environmental conservation sustainably.

General Manager : Marketing & Sales Division of MITSUBISHI ELEVATOR (Thailand) Co.,LTD. Mr. Suntipong Buranakittayakorn stated that the elevator and escalator market has expanded over the past couple of years, thanks to the government’s push to develop the public transportation system which included skytrain, subway projects, and the construction of the second passenger terminal of Suvarnnabhumi International Airport. All of these elements have contributed to a dynamic atmosphere in the real estate market and the construction business, resulting in multiple projects sprung in such provinces as Nonthaburi, Samut Prakan, as well as Min Buri and Thonburi districts of Bangkok. In addition, more and more real estate business operators have turned their attentions to the high-end segment, resulting in higher volume of MITSUBISHI ELEVATOR’s products being produced to satisfy the demand of the segment, with positive response and sales from the target clients. Notable projects and establishments that have entrusted MITSUBISHI ELEVATOR’s products include Mahanakhon real estate development project which is currently the highest building in the Silom-Sathon area, the highest commercial escalator at Terminal 21, Suvarnabhumi International Airport, Q.House Group, Ananda Development, Central Group, Siam Paragon, Icon Siam, and LPN.

Over the past year, MITSUBISHI ELEVATOR has sold over of 1,700 of elevators and escalators. The General Manager projects the company would be able to sell at least 1,800 units of the products this year, with a growth of 5-7% in the residential sector. He said the segment of the market prioritizes safety and quality of the products over price issue. The General Manager also added that the ratio of the demand in the rural areas versus that in the capital is 50:50, with Bangkok having potential due to its strong public transportation expansion. The market value in Thailand for elevators and escalators is about 7 billion baht.

The company is confident that, within a couple of years, there will be more demand for the products from the office building sector, thanks to the development of the ASEAN Economic Community (AEC). The firm believes that the public health sector will grow rapidly, resulting in an increase in number of hospitals and healthcare centres, as Thailand has become the medical hub for the ASEAN region. The rising number of aging population also contributes to the sector’s growth. The demand for elevator is currently estimated at 5,500, with a potential to grow 5-7%. General Manager Suntipong added that MITSUBISHI ELEVATOR is determined to maintain the number one in the market which is equivalent to 30% of the local market share.