OEM plans to expand, and a goal is achieved.

Hyundai Adding India Office, Plans Turkey Plant

Hyundai Elevator Co. of South Korea plans to acquire or build a factory in Turkey, having entered the market last year, South Korean newspaper Pulse reported. Additionally, the company intends to enter India either in joint-venture or independent capacity this year, according to Chief Executive Director Jang Byung-woo. “We aspire to move up to the seventh in the global rank from current ninth place by doubling the share of overseas revenue to 40% in four years,” he said.

Hyundai sees the moves as a stepping stone for entering the Eastern European elevator market. Its other growth plans include the 2019 completion of a second plant in China near Shanghai and reinforcing its maintenance division in South Korea, where the segment provides 20-30% of operating income. Pulse stated Hyundai registered its largest-ever operating profit of KRW182.1 billion (US$158 million) on sales of KRW1.8 trillion (US$1.57 billion) in 2016, up 16.4% and 21.4%, respectively.

Sri Lanka’s Aitken Spence Receives ISO Certification

Aitken Spence Elevators, sole Otis distributor in Sri Lanka, has been awarded the ISO 9001:2008 certification for its quality-management system (QMS) by SGS Lanka (Pvt) Ltd., Mirror Business reported. The certification includes sales, marketing, installation, testing, commissioning and maintenance of Otis elevators, escalators and moving walks.
The certification is provided to organizations that demonstrate their QMS has the robust ability to consistently fulfill customer requirements, as well as statutory needs. It also indicates the organization is committed to continually enhancing customer satisfaction through the application of the management system with processes in place for nonconformance management and improvement. Aitken Spence Joint Managing Director of Elevators Surendar Mariappan said it “is a key factor contributing to all aspects of our operation” and “a milestone of achieving the highest levels of compliance and standardization for the benefit of our customer base.”