Mitsubishi Electric secures full ownership of AG MELCO

Mitsubishi Electric has wrapped up its takeover of AG MELCO Elevator in Dubai, shifting the company from a long running joint setup to a fully owned subsidiary. The move is not cosmetic. It is Mitsubishi Electric doubling down on a building systems market that is about to see a spike in maintenance and renewal demand as infrastructure across the Middle East, South Asia, Africa and Central Asia ages at the same time.

AG MELCO has been part of Mitsubishi Electric’s orbit since 1975 and built its name on multi brand elevator maintenance in regions where reliability decides reputation. So instead of keeping things split across partners, Mitsubishi Electric is pulling everything under one roof to cut the decision cycles, tighten operational control and sharpen its competitive edge.

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The acquisition also signals a quiet shift. Global elevator players are no longer chasing only new installations. They are fighting for long term service dominance because that is where the sustained margins sit. By absorbing AG MELCO outright, 三菱電機 is positioning itself to grab more of that recurring business and strengthen its grip in fast growing markets where building upkeep is becoming a priority instead of an afterthought.