OREANDA-NEWS. Mitsubishi Electric Corporation announced today that one of its elevator and escalator manufacturing companies in China, Mitsubishi Electric Shanghai Electric Elevator Co., Ltd. (MESE), has begun operating its third factory and will complete a fourth by July 2015, aiming to double annual capacity to 20,000 units.

The two additional factories will enable to MESE to respond to increasing demand for elevators and escalators in China by offering extra-competitive, high-speed products made locally. In addition to expanding capacity and introducing the latest manufacturing facilities, the company also is enhancing its facilities for development, engineering and testing.

The newest of the two factories, a one-story steel structure measuring about 6,300 square meters, entered operation last month. It was constructed at a cost of 40 million RMB, or approximately 6.5 million USD. It is being used to manufacture products including elevator equipment, especially hall equipment.

The second new factory, which will be completed in July 2015, will comprise a one-story factory measuring about 25,500 square meters and a separate three-story building for development and engineering, including a testing tower for evaluating elevators. The total cost will come to 90 million RMB, or approximately 14.7 million USD.

MESE is improving its product-development speed to respond more quickly to ever-changing local needs. The company is committed to becoming China's leader in overall ability to deliver safe, reliable, high-quality, comfortable elevators and escalators built with state-of-the-art technology.

China is the world's largest market for elevators and escalators, with combined annual demand exceeding 500,000 units, which accounts for more than 60% of global demand. As urban development spreads from China's coastal areas to inland regions, demand is expected to continue growing at a moderate pace.

MESE was established in 2002 as one of Mitsubishi Electric's bases in China for developing and manufacturing elevators. The company, which supplies premium-specification "MAXIEZ" elevators to all parts of China, expects production to reach approximately 10,000 units this year. In 1987, Mitsubishi Electric set up a separate company, Shanghai Mitsubishi Elevator Co., Ltd. to produce elevators and escalators for upper-middle specifications.