International Elevator & Equipment Inc. (IEE) sees a 10 percent increase in sales in the Philippines of Mitsubishi Electric- branded air conditioners and elevators this year on the back of a construction growth that is expected to grow by 6 to 7 percent.
Mitsubishi Electric has enjoyed leadership in the elevator market for the past 40 years with 30 to 40 percent market share of the 3,000-unit industry.
Ramoncito Ocampo, IEE president, in a press briefing, said Mitsubishi continues to innovate to come up with latest equipment fit for the evolving requirements of the building and construction landscape in the country. IEE is a group company of Mitsubishi Electric.
Ocampo said the sustained growth of construction and the infrastructure spending of the government will support the business of equipment suppliers such as IEE.
The company also expressed support to the Philippine construction industry roadmap 2020-2030’s vision to achieve sustainability with its range of energy-efficient, safe and reliable products.
These include advanced elevator, escalator and heating, ventilation, air conditioning and refrigeration innovations.
IEE is highlighting its innovative and sustainable technologies at ongoing Philconstruct Expo at the SMX Convention Center.