International Elevator & Equipment Inc., an affiliate of the Mitsubishi Electric Group in the Philippines, said Wednesday it is on track to reach its sales target of at least 800 units of elevators and escalators, four times more than those of its closest competitor.
“The ongoing construction boom is making us realize our yearly forecast in the last three years. We’ve been consistently the market leader in elevator and escalator,” company president Ramoncito Ocampo said in a briefing in Pasay City.
IEE has about 40 percent to 45 percent share of the local market in elevators and escalators.
In addition, the company’s cooling solutions segment is also projected to increase with sales forecast of 5,000 air-conditioning units by the end of 2016.
Metro Manila is still the company’s growth area comprising about 80 percent of the company business. Visayas and Mindanao make up for the remaining 20 percent.
The company has existing contracts with the Ayala Group, Megaworld Corp., Robinsons Land Inc. and business process outsourcing developers for inside mobility and cooling systems. It has been operating in the Philippines since 1969.
Mitsubishi Electric’s manufacturing plants in Thailand, South Korea and Japan supply the Philippine requirement.
Produced according to Japanese standards, the air conditioning units are assured to be one of the finest. The wide-ranging climatic conditions found throughout Japan paved the way for the group’s engineers to develop sophisticated but durable units and systems capable of constant use in any temperature and weather condition.
Mitsubishi Electric’s air conditioning system line includes Mr. Slim room air conditioners, City Multi-Variable Refrigerant Flow System and Lossnay technology.
IEE also offers jet towel hand dryers which use ‘jet blasts’ of air to dry hands in seconds.