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Business alliance between Hyundai Elevators and Mitsubishi Electric.
Hyundai Elevators addressed that Hyundai Elevators and Mitsubishi Electric Corporation agreed to supply Mitsubishi elevator products to Hyundai Elevators for Korean market. Two companies have also agreed to cooperate elevator business for local sales and sales support in Korean market, Dec. 30. 2000. Two companies have made an agreement to expand business alliance steadily. Mitsubishi elevator products shall be landed in Korean market starting from January 2001 followed by the agreement between Hyundai Elevators and Mitsubishi. High speed product shall initially be introduced in Korean market. Hyundai Elevators assures that market share might be increased by this turning point. Mitsubishi Electric was seeking a business partner in Korea due to the termination of business corpotation with LGIS which was merged to OTIS recently. Mitsubishi Electric is one of the world market leader with largest supplier in China. |