Mitsubishi Electric to Install Elevators in Thailand's "Tallest-To-Be Building"

  Mitsubishi Electric to Install Elevators in Thailand's "Tallest-To-Be

       To reach a speed of 480 meters per minute, the country’s fastest

Business Wire

TOKYO -- September 19, 2013

Mitsubishi Electric Corporation (TOKYO:6503) announced today it has secured an
order to deliver a total of 38 elevators and escalators to MAHANAKHON, a
commercial complex under construction in Bangkok, Thailand. The 314-meter high
building will be the country’s tallest, with 77 floors above ground and one
below ground when completed. Of the elevators units to be delivered, seven
will travel at a speed of 480 meters per minute and are expected to be the
fastest elevators in Thailand.

MAHANAKHON will consist of two towers and will be located in Silom, a central
business district of Bangkok. The lower tower will accommodate commercial
facilities, and the higher tower will house a hotel and high-end residential
facilities. Pace Development Corporation PLC, one of the country’s leading
high-end developers whose principle offices are based in the city of Bangkok,
is undertaking construction.

Two out of the seven high-speed elevators will service the taller tower as
shuttle elevators. They will run non-stop from the ground floor to the
observation floor in one minute, offering fast yet comfortable rides to
passengers. 15 elevators, including the seven high-speed models, will be
equipped with an electricity regeneration function that enables the elevators
to effectively utilize generated electricity, helping reduce energy
consumption and environmental impact.

Mitsubishi Electric Corporation established a joint venture company in 1977
and began sales of elevators and escalators in Thailand. Later, Mitsubishi
Electric Corporation turned the joint venture company into a subsidiary,
Mitsubishi Elevator (Thailand) Co., Ltd., and further expanded its business
through installation and maintenance of elevators and escalators. Presently,
the company has 16 operational bases in seven cities within the country, and
has retained the country’s leading market share, approximately 40% as of FY
2012. In 2008, a training center for elevator and escalator installation and
maintenance was established in Bangkok in an effort to maintain and further
enhance service quality. The training center has been used effectively to
nurture the skills required for specialized engineers.

Mitsubishi Elevator Asia Co., Ltd., an elevator and escalator manufacturing
facility, was established in 1991 in Thailand. Until now, Mitsubishi Elevator
Asia Co., Ltd. has delivered a total of more than 100,000 elevators and
escalators to more than 80 countries throughout the world, including Thailand.

While the Inazawa Works in Japan remains Mitsubishi Electric’s mother factory
for elevators and escalators, Mitsubishi Elevator Asia Co., Ltd. will continue
to manufacture high-quality products, such as the NEXIEZ standard elevator
series designed for international markets. With an enhanced product lineup,
Mitsubishi Electric Corporation will further expand its business, and remain
dedicated to offering peace of mind to customers by delivering safe,
comfortable and efficient elevators and escalators.

About the order
Consignee          MAHANAKHON
Contractee          Pace Development Corporation PLC.
                    1. Elevators: 28 units (including 7 units traveling at 480
Products ordered    meters per minute)
                    2. Escalators: 10 units
                    Total: 38 units
                    Mitsubishi Electric Corporation Inazawa Works (Japan)
Factories           Mitsubishi Elevator Asia Co., Ltd. (Thailand)
                    Mitsubishi Elevator Korea Co., Ltd. (Korea)
Delivery schedule  2015

About Mitsubishi Electric Corporation

With over 90 years of experience in providing reliable, high-quality products,
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. Embracing the spirit of its corporate
statement, Changes for the Better, and its environmental statement, Eco
Changes, Mitsubishi Electric endeavors to be a global, leading green company,
enriching society with technology. The company recorded consolidated group
sales of 3,567.1 billion yen (US$ 37.9 billion*) in the fiscal year ended
March 31, 2013. For more information visit

*At an exchange rate of 94 yen to the US dollar, the rate given by the Tokyo
Foreign Exchange Market on March 31, 2013


Mitsubishi Electric Corporation
Customer Inquiries
Overseas Marketing Division, Building System Group
Tel: +81-3-3218-3583
Media Inquiries
Taichi Hamamoto, +81-3-3218-2834
Public Relations Division
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