Mitsubishi Electric to compete in mall air-con business

International Elevator & Equipment, Inc. (IEEI), local unit of Japanese Mitsubishi Electric of Japan, has folded into its portfolio Italy’s leading water chiller firm Climaveneta as it cements its foothold in the robust local construction industry, particularly in the mall airconditioning business.

IEEI President Ramoncito Ocampo said they hope to grow 5-10 percent this year of which Climaveneta is expected to initially contribute 5 percent for fiscal year ending April, 2018.

This arrangement was made possible after its parent firm Mitsubishi Electric Corporation acquired S.p.A and RC Group S.p.A. under Mitsubishi Electric Hydronics and IT Cooling System S.p.A. in 2015.

With IEE now handling Climaveneta’s chiller operation from its previous Philippine distributor, Ocampo said they will be able to offer a complete line as equipment supplier to the robust construction industry.

IEE has big operation in the heating, ventilation and air conditioning (HVAC) market in the country, but it only focuses on the VRF (variable refrigerant flow also known as variable refrigerant volume (VRV), thus limiting its participation in big commercial establishments.

With Climaveneta, Ocampo said, they will be able to offer to mall developers and operators water chillers, the most proven technology for large commercial establishments, particularly malls.

Shamsul Fazri Ramli, sales support manager of Chat Union Climaveneta Co. Ltd., said that Climaveneta, which was established 40 years ago in Italy, is one of the top five water chiller companies globally. It has been recognized for being energy efficient with all products in Italy carrying “Eurovent” certification.

Initially, Climaveneta is making available the Magnetic Levitation oil-less water cooled an air cooled chillers.

According to Ocampo, IEE has established good relationships with mall developers and operators as they provide them with elevators and escalators, but they could not offer water chillers.

With its strong presence in the construction sector, IEE sees no difficulty in marketing the Italian Climaveneta technology. Climaveneta equipment will come from Italy and China.

With more malls being developed in the metropolis as well as in the provinces, Ocampo expects to compete in the business segment which is currently dominated by US and some Korean airconditioning brands.

The new product segment will further boost the overall business of IEE, which bread and butter is its elevator and other “moving walks” products such as escalators and walkalators.

IEE corners 35 to 40 percent market share of the total local market for the elevator business in the country, Ocampo said.

One of its recent contract is the installation of “moving walks” at the Runway for NAIA 3.

IEE has been operating in the country for 48 years already.