Regional

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. Also Read: Fujitsu…