EITA in JV with Shanghai’s STEP for elevators projects

KUALA LUMPUR: EITA Resources Bhd has teamed up Shanghai STEP Electric Corporation to undertake elevator and escalator control systems outside China.

The company said on Monday its unit EITA-Schneider (Mfg) Sdn Bhd had signed an agreement with Shanghai STEP Electric Corp to set up the 50:50 JV company to manufacture, distribute and service the systems in Malaysia and other countries.

EITA-Schneider is involved in the sale, installation and maintenance of the system  in Malaysia, the Middle East, Asean and other countries outside China.

“EITA-Schneider and STEP recognise that the proposed JV would greatly benefit both parties by combining the best and most advanced German, Chinese and Malaysian technology.

“They have agreed to undertake projects where their joint expertise, knowledge, market share and resources could be synergised to maximise its full potential and have agreed to conduct the business with mutual confidence, co-operation and for mutual benefit,” it said.