Mitsubishi Electric Swedish Subsidiary Motum To Acquire Norway’s UNIHEIS

Motum AB, a Sweden-based subsidiary of Mitsubishi Electric Corp., has formally agreed to acquire Norway-based UNIHEIS AS, which has been selling and installing new elevators and providing maintenance as a Mitsubishi Electric distributor since 1985, primarily in Norway. Mitsubishi Electric and Mitsubishi Electric Building Solutions Corp. aim to expand business in the European market, where demand for elevator maintenance and replacement is expected to increase. “In the global elevator and escalator business, particularly in Europe, a mature market in which demand for maintenance and renewal is expected to continue to rise due to aging equipment and rising environmental awareness, Mitsubishi Electric is building a system that allows it to rapidly provide value to customers,” the company stated.