Mitsubishi Electric Acquires Ireland’s Ascension Lifts

Through Stockholm, Sweden-based subsidiary Motum AB, Mitsubishi Electric Corp. acquired Dublin, Ireland-headquartered Ascension Lifts, Mitsubishi Electric announced on April 30. Mitsubishi Electric and its Tokyo-based subsidiary, Mitsubishi Electric Building Solutions Corp., are expanding their worldwide presence in elevator maintenance and renewal, which is expected to enjoy growing demand in the building systems sector — one of Mitsubishi Electric’s priority growth areas. In the mature European market, demand for maintenance and renewal is expected to grow against a backdrop of aging elevators and escalators and heightened environmental awareness. In response, the two companies plan to create an operational structure capable of accelerating delivery and value to customers. Operating in the Irish market for many years, Ascension Lifts boasts a strong customer network, maintenance stock and outstanding technical capabilities for multi-brand maintenance and renewal.