Fujitec Acquires Mexico’s EEVI

Fujitec Co., Ltd. announced on December 16 it has acquired 85% of the shares of Tijuana, Mexico-headquartered Elevadores EV International, S.A. de C.V. (EEVI). EEVI, Fujitec observed, “has rich experience exporting to elevator companies in North America” and holds a leading market share in Mexico. The acquisition promises to further enhance Fujitec’s cost competitiveness in North America by utilizing EEVI’s manufactured components. The impact of the acquisition on Fujitec’s financial results for the fiscal year ending in March 2023 is expected to be minor.