Shanghai Mitsubishi Elevator Co., Ltd (SMEC) is a joint-venture specialized in manufacture and sales of elevators. It is established in 1987, with investment from 4 partners the investment proportion of the company’s shareholders are:
Shanghai Mechanical & Electrical Industrial Investment Co., Ltd 52%
Mitsubishi Electric Corp. Japan 32%
China National Machinery Import & Export (Group) Co., Ltd 08%
Hongkong Ryoden (Group) Co., Ltd (Subsidiary of Mitsubishi Electric) 08%
The area covered of the company is 188,700 m2, the staff nearly 1770, and the total investment 200 million US dollars.
SMEC introduced from Mitsubishi Electric Corporation, Japan the world-advanced computerized variable voltage variable frequency (VVVF) elevator technology, and was the first to offer VVVF series elevators in domestic market. After the products were put into the market, it won good fame from the market and set up its reputation as a giant in China elevator industry. Since the establishment of this joint-venture SMEC continuously introduced and localized the up-to-date GPS/GPM, GPS-II and GPS-III all computerized intelligent elevator technologies from Mitsubishi, Japan, and meanwhile, it developed jointly with Mitsubishi, Japan the GPS-CR residential elevators. Recently it is speeding up in the localization of ELENESSA machine-room-less elevators. At the same time, the company developed independently the HOPE series elevators and variable frequency variable voltage escalators, moving walks.
For 15 years after its establishment in 1987, the company has been keeping a steady growth, with its production and business scale enlarged quickly. The sales of SMEC are raised to 370 million USD in 2001, 44.2 times as compared to the 8.5 million USD of 1987. The market share is increased to about 20%, while at the first stage of its operations, the figure was only 5%. It has been ranking 1st in China elevator industry for 9 consecutive years since 1993, regarding sales, profits, outputs, market share, etc. For the past 15 years, the accumulated sales income is 3.3 billion USD, elevators totally 800,000 units. It is in the list of the top 500 largest foreign investment enterprises in China.