Mitsubishi Electric Acquires Norway’s ALT Heis

Through wholly owned Swedish subsidiary Motum, Tokyo-based Mitsubishi Electric Corp. acquired all shares of Norwegian elevator company ALT Heis, Mitsubishi Electric announced on November 29. The move follows the 2023 acquisition of Oslo, Norway-based UNIHEIS and reflects Mitsubishi Electric’s and Mitsubishi Electric Building Solution Corp.’s (MEBS) plan to expand their elevator maintenance business globally. The companies anticipate continued growth in demand for maintenance and renewal in Europe, where they are increasing their elevator stock. “We have positioned the expansion and reinforcement of our European business as one of the core strategies of our building systems business,” MEBS Group President Iwao Oda said. “This latest acquisition will further strengthen our position in Norway, and we will continue to actively pursue M&A strategies with the aim of achieving sustainable growth.”