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Toshiba expands business in Vietnam

Released at: 11:27, 04/03/2019

Toshiba expands business in Vietnam

Photo: Toshiba

New elevator and building systems subsidiary established in HCMC.

by Minh Do

The Toshiba Elevator and Building Systems Corporation (TELC), headquartered in Kawasaki, Japan and a subsidiary of the Toshiba Corporation, announced on March 4 in Ho Chi Minh City the establishment of the Toshiba Elevator (Vietnam) Limited Liability Company (TELV).

The newly-established company officially got underway on March 1 to strengthen business operations in the rapidly-growing Vietnamese market. TELV has registered capital of VND40 billion ($1.72 million) and specializes in the sale, installation, and maintenance of elevators and escalators. TELC holds 75 per cent of capital and former CEO of the New City Technology Trading Services Co. Ltd (NCE), Mr. Nguyen Tran Dinh Khoi, 25 per cent.

TELC entered Vietnam in 2014 through a partnership with local company NCE, with both steadily expanding business operations since, through sales and marketing activities.

Based on NCE’s success and riding on Vietnam’s rapid economic growth compared to other countries in ASEAN, now is a good time for TELC to establish a subsidiary to further build its business opportunities.

By strengthening sales activities and offering high-quality field services in the fast-growing Vietnam market, it aims to further expand its business operations in the region.

TELC was established by Toshiba in 1967 and began global operations in the early 1970s. It is now an important unit of Toshiba’s social infrastructure business sector and a widely respected company with global reach.

It has completed numerous iconic projects, including installing the ultra-high-speed elevators in Taiwan’s Taipei 101. It was certified by Guinness World Records as the fastest elevator in the world, at a speed of 1,010 meters per minute, from 2004 to 2017. TELC has also installed large capacity high-speed elevator (40 persons, 10 meters per second) in the most iconic building in Japan, Tokyo Skytree.

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