Toshiba Elevator and Building Systems Corporation, a subsidiary of $200 billion Japanese conglomerate Toshiba Corporation, has joined hands with Chennai-based Johnson Lifts Pvt Ltd to form a joint venture called Toshiba Johnson Elevator (India) Pvt Ltd (TJEI). Toshiba will hold 51 per cent stake while the remaining 49 per cent will be held by Johnson Lifts.
“TJEI will leverage Johnson Lifts’ sales & marketing channel, installation & after sales service experience, and manufacturing technologies for widening its integrated business operations here in India,” said Shinichiro Akiba, global president & CEO of Toshiba Elevator and Building Systems.
Johnson Lifts, which manufactures elevators and escalators, has installed more than 30,000 elevators and has a service base of approximately 25,000 units. The privately held company holds 20 per cent market share in India and has elevator factories in Chennai and Nagpur. It has been a fast-growing firm, having more than doubled its revenues and profits over the past five years, and is estimated to have annual sales of well over Rs 600 crore. The company is yet to bring in an external investor.
Established in 1966 by Toshiba Group, Toshiba Elevator is also involved in the business of elevators and escalators. The company has completed several high profile projects, including the world’s fastest elevator, running at 1,010m/min at Taipei Finance Center, which was completed in 2004.
Currently, the firm is planning to launch a global maintenance support system in India and the UAE to monitor elevator troubles, ensure immediate response, track & monitor site teams’ progress and provide work instructions through handheld devices and record results & reports in local servers for further processing.
(Edited by Sanghamitra Mandal)