Toshiba in joint lift
by Shrutee Kate Business/Investment/Construction Toshiba in joint lift venture with Indian firm Mumbai, Oct 28: India is a key market for Toshiba Corporation’s global expansion plans as its economic growth is set to outstrip that of China, according to Shinichiro Akiba, President and Chief Executive Officer, Toshiba Elevator and Building Systems Corporation. Akiba said, in the last three years Toshiba has aggressively expanded its presence in India across its range of businesses including personal computers, appliances and semiconductors. In line with that, Toshiba Elevator, which launched an Indian subsidiary last year has clocked bookings for over a 100 high-end, high-speed elevators. It has now tied up with the largest elevator company in India, Johnson Lifts, to grow this business. Yesterday it announced a joint venture, Toshiba Johnson Elevators (India) Pvt Ltd with the Indian partner holding a 49 per cent stake and Toshiba 51 per cent in Mumbai...