TOKYO--(BUSINESS WIRE)--Mitsubishi Electric Corporation (TOKYO:6503) announced today it has secured an order to deliver a total of 38 elevators and escalators to MAHANAKHON, a commercial complex under construction in Bangkok, Thailand. The 314-meter high building will be the country’s tallest, with 77 floors above ground and one below ground when completed. Of the elevators units to be delivered, seven will travel at a speed of 480 meters per minute and are expected to be the fastest elevators in Thailand.

MAHANAKHON will consist of two towers and will be located in Silom, a central business district of Bangkok. The lower tower will accommodate commercial facilities, and the higher tower will house a hotel and high-end residential facilities. Pace Development Corporation PLC, one of the country’s leading high-end developers whose principle offices are based in the city of Bangkok, is undertaking construction.

Two out of the seven high-speed elevators will service the taller tower as shuttle elevators. They will run non-stop from the ground floor to the observation floor in one minute, offering fast yet comfortable rides to passengers. 15 elevators, including the seven high-speed models, will be equipped with an electricity regeneration function that enables the elevators to effectively utilize generated electricity, helping reduce energy consumption and environmental impact.

Mitsubishi Electric Corporation established a joint venture company in 1977 and began sales of elevators and escalators in Thailand. Later, Mitsubishi Electric Corporation turned the joint venture company into a subsidiary, Mitsubishi Elevator (Thailand) Co., Ltd., and further expanded its business through installation and maintenance of elevators and escalators. Presently, the company has 16 operational bases in seven cities within the country, and has retained the country’s leading market share, approximately 40% as of FY 2012. In 2008, a training center for elevator and escalator installation and maintenance was established in Bangkok in an effort to maintain and further enhance service quality. The training center has been used effectively to nurture the skills required for specialized engineers.

Mitsubishi Elevator Asia Co., Ltd., an elevator and escalator manufacturing facility, was established in 1991 in Thailand. Until now, Mitsubishi Elevator Asia Co., Ltd. has delivered a total of more than 100,000 elevators and escalators to more than 80 countries throughout the world, including Thailand.

While the Inazawa Works in Japan remains Mitsubishi Electric’s mother factory for elevators and escalators, Mitsubishi Elevator Asia Co., Ltd. will continue to manufacture high-quality products, such as the NEXIEZ standard elevator series designed for international markets. With an enhanced product lineup, Mitsubishi Electric Corporation will further expand its business, and remain dedicated to offering peace of mind to customers by delivering safe, comfortable and efficient elevators and escalators.

About Mitsubishi Electric Corporation

With over 90 years of experience in providing reliable, high-quality products, Mitsubishi Electric Corporation (TOKYO:6503) is a recognized world leader in the manufacture, marketing and sales of electrical and electronic equipment used in information processing and communications, space development and satellite communications, consumer electronics, industrial technology, energy, transportation and building equipment. Embracing the spirit of its corporate statement, Changes for the Better, and its environmental statement, Eco Changes, Mitsubishi Electric endeavors to be a global, leading green company, enriching society with technology. The company recorded consolidated group sales of 3,567.1 billion yen (US$ 37.9 billion*) in the fiscal year ended March 31, 2013. For more information visit http://www.MitsubishiElectric.com

*At an exchange rate of 94 yen to the US dollar, the rate given by the Tokyo Foreign Exchange Market on March 31, 2013