Hitachi forecasts a lift from Cambodian elevator salesHitachi Elevator Cambodia Co aims for sales volume of 150 units in 2020 with revenue of US$6 million (182.4 million baht) as high-rise buildings spring up in the neighbouring country. The company is a joint venture of Japan's Hitachi (47%), Thailand's Siam-Hitachi Elevator Co (30%) and Cambodia's CMED Group Co (23%). Founded in July 2016, Hitachi Elevator Cambodia has registered capital of $1.2 million to provide sales, installation and maintenance of elevators and escalators. Hitachi expects to have a 25% market share in elevators and escalators in Cambodia by 2021. Siam-Hitachi Elevator is a joint venture of Hitachi (60%) and Siam Motors Co (40%).

Source: Bangkok Post October 08, 2019 23:26 UTC