Mitsubishi Electric Signs Share-transfer Agreement to Wholly Acquire Swedish Elevator Company Motum

Mitsubishi Electric Corporation (TOKYO: 6503) announced today that it formally agreed on March 23 to wholly acquire Sweden-based Motum AB, which operates an elevator and automatic door business mainly in Sweden. Through the acquisition, Mitsubishi Electric aims to strengthen its capabilities to service and modernize elevators and escalators in Sweden and other countries not limited to Europe.