November 26, 2007 / 12:32 AM / 12 years ago

Japan's Hitachi eyes elevator demand in India

TOKYO, Nov 26 (Reuters) - Japan’s Hitachi Ltd (6501.T) said on Monday it plans to shore up its sales and maintenance teams in India to win orders for elevators for high-rises in New Delhi, Mumbai and Bangalore.

Hitachi, which hopes to catch up to Otis Elevator Co OLFTF.PK and Kone Corp (KNEBV.HE), aims to win orders for 300 elevators in India in the year starting March, a spokesman said.

The company is also considering expanding its local sales network, he said.

Global demand for Hitachi’s construction machinery, train systems, elevators and power systems has helped outweigh losses in its hard drives and flat TVs.

Elevator unit shipments have seen double-digit growth in India, while global shipments are estimated to grow an annual 5 to 7 percent, Hitachi executives have said. (Reporting by Mayumi Negishi; editing by Malcolm Whittaker)

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