Johnson Lifts Pvt. Ltd. (JLPL), India’s largest manufacturer of elevators and escalators, with a turnover of ₹4,000 crore, today announced that it has increased its equity stake in Toshiba Johnson Elevators (India) Pvt. Ltd. (TJEI).
The company has increased its stake to over 80 per cent from 49 per cent, and has thus become the majority shareholder.
Toshiba Johnson is a joint venture between Johnson Lifts and Toshiba Elevator and Building Systems Corporation (Toshiba Elevator) since 2012.
“The company now targets deeper market penetration, strengthening sales and service capabilities and enhance customer engagement aiming to establish itself as the leading Japanese elevator brand in India,” said Wilfred Martin Clarence , Managing Director Toshiba Johnson.
Clarence will serve as the Managing Director of Toshiba Johnson, and will join the Board of Directors, said John.
The combined presence of JLPL and TJEI represents 20 per cent of the elevator market and 30 per cent of the escalator market in India, strengthening the group’s leadership position in the premium and high‑speed mobility segment, Yohan K John, Director, Johnson Lifts, told newspersons.
TJEI will continue as the sole and exclusive business partner in India for Toshiba‑branded elevators, escalators and travelators. It will remain responsible for sales, installation, maintenance, customer service and all ongoing projects, says a statement.