News Releases

Mitsubishi Electric's Swedish Subsidiary Signs a Share Transfer Agreement to Wholly Acquire Norwegian Elevator Company ALT HeisAiming to further strengthen the company's elevator and escalator business in Europe via M&A

FOR IMMEDIATE RELEASE No. 3753

TOKYO, November 29, 2024 - Mitsubishi Electric Corporation (TOKYO: 6503) (hereafter, Mitsubishi Electric) announced today that it acquired all shares of Norwegian elevator company ALT Heis (headquartered in Bergen, Norway) on November 29 through its wholly owned subsidiary, Motum (headquartered in Stockholm, Sweden).
Mitsubishi Electric and Mitsubishi Electric Building Solutions Corporation (hereafter, MEBS) are aiming to expand their elevator maintenance business globally, and the present acquisition follows the 2023 acquisition of UNIHEIS (headquarters: Oslo, Norway).
Through this acquisition, we will expand our maintenance business in Norway and further strengthen our business foundation by promoting a strategy aimed at increasing our elevator maintenance stock in the European market, where we anticipate continued growth in demand for maintenance and renewal.

Note

Note that the press releases are accurate at the time of publication but may be subject to change without notice.

Inquiry

Media contact