business / news / / The New Indian Express
India’s leading manufacturer of elevators and escalators, Johnson Lifts Pvt Ltd, on Monday said that they haven't been able to make any shipments to the Gulf because of the Iran war.
Johnson Lifts has suspended all Gulf shipments for two months due to the Iran war.
KEY POINTS
- 10-15 containers were recalled to factories after being stuck in Sri Lanka amid shipping disruptions.
- Johnson Lifts has acquired majority equity in Toshiba Johnson Elevators (India), surpassing its previous 49% stake.
- This acquisition will change TJEI's board management while manufacturing remains in Japan for imports to India.
- JLPL and TJEI now jointly represent 20% of India's elevator market and 30% of the escalator market.
COMPANIES
Summarized by Newsio from The New Indian Express. How we summarize →