Midea Enters Elevator Business Targeting Smart Buildings

Midea officially announced its entry into the elevator business. On December 11, 2020, Midea HVAC & Building Technologies Devision (Midea HBT) formally acquired Winone Elevator and held a merger and acquisition (M&A) signing ceremony in Foshan, Guangdong Province, China, attending by the heads of the two companies and Winone shareholders. The specific acquisition price was not disclosed.