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Mitsubishi Electric to Expand Development and Manufacturing Capabilities at Mitsubishi Elevator Asia (Thailand)Mitsubishi Electric Corporation (TOKYO:6503) announced today that it will establish a new factory and test tower to strengthen the development and manufacturing capabilities of Mitsubishi (News - Alert) Elevator Asia Co., Ltd. (AMEC) in Thailand, which produces elevators and escalators for the global market. The new facilities will raise AMEC's annual production capacity by more than 50% to 20,000 units. In particular, Mitsubishi Electric (News - Alert) will expand output of its flagship NEXIEZ series of elevators for global markets, particularly in emerging countries where demand is growing. Production capacity also will be increased for control equipment, which will enable Mitsubishi Electric to respond more effectively to needs for elevator renewals in markets outside Japan. AMEC Managing Director Yoshikatsu Hayashi said: "Together with our new R&D center, which we established in October 2014 to develop and evaluate elevator and escalator parts, the new factory and test tower will enable us to increase our procurement of parts in the local Thai market for enhnced cost competitiveness and reduced manufacturing lead times. The new facilities will also strengthen our development and engineering operations by enabling us to respond to market requirements with more tailored product features and designs." Mitsubishi Electric will invest 710 million THB (approximately 21 million USD) to build the new factory and test tower. The three-story steel building, which will have a footprint of approximately 4,800 square meters, is scheduled to be operable by May 2016. The test tower will rise to a height of 59 meters, equivalent to a 14-story building, and have a footprint of approximately 200 square meters. Beginning in December 2016, the tower will be used for the development, designing and evaluation of high-speed elevators. About Mitsubishi Elevator Asia Co., Ltd. (AMEC) AMEC, established in 1991 and located at Amata Nakorn Industrial Estate, Chonburi Province, Kingdom of Thailand, has served as Mitsubishi Electric's elevator and escalator manufacturing base for the global market. The Mitsubishi Electric subsidiary has paid-in capital of 1,151.5 million THB and approximately 2,300 employees. The company is led by Yoshikatsu Hayashi. 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 4,054.3 billion yen (US$ 39.3 billion*) in the fiscal year ended March 31, 2014. For more information visit http://www.MitsubishiElectric.com. *At an exchange rate of 103 yen to the US dollar, the rate given by the Tokyo Foreign Exchange Market on March 31, 2014.
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