Toshiba Elevator Middle East (L.L.C.) established, Shinichiro Akiba announces

While TELC's UAE business is handled by Dubai-based company Dhaher Al Muhairi Co. (L.L.C.) (DMCO), TELC agreed with other shareholders on Nov. 28 about establishment of a new company through increase of DMCO's capital and the company name also changed officially as 'Toshiba Elevator Middle East (L.L.C.)'. The other valued Partner is Hydra Commercial Investments L.L.C., one of the Royal Group Companies and its Group Chairman is His Highness Sheikh Thanoon Bin Zayed Al Nahyan.

DMCO has been TELC's distributor since 1999 for sales, installation and maintenance of elevators in the UAE. The Dubai-based company has carried out very prestigious projects for clients such as Nakheel completing 420 sets of elevators in Dubai. DMCO has also completed mega projects involving 14 towers with 60 high-speed gearless elevators at a contract price of approximately Dhs110m at Marina Square, Abu Dhabi.

Further, the company is currently involved in executing prestigious towers in the City of Lights, Reem Island and other parts of Abu Dhabi totaling approximately Dhs101m. In the UAE market, TELC enjoys a very respectable market share and is one of the market front-runners.

TELC has ambitious plans to expand its wings to GCC & Middle Eastern countries keeping Dubai as its headquarters. As a prelude to the expansion plan, DMCO has already started securing projects in Oman and Saudi Arabia and is in an advanced stage of finalizing projects in Qatar and other neighboring countries.

President Mr. Shinichiro Akiba has appointed Mr. M.J. Mohamed Iqbal as a representative of Toshiba Elevator's Middle East operation.