Siam Elevator Co., Ltd. and Machinery and Equipment Co., Ltd. in a joint venture with Hitachi (Japan) Ltd. established Siam-Hitachi Elevator Co., Ltd. (SHE) to solely manufacture install and distribute Hitachi elevators, escalators and moving sidewalks, and Bangkok-Hitachi Elevator Service Co., Ltd. (BHESCO) to solely install and service these products in Thailand under Siam Motors’s holding 60% shares and Hitachi’s holding 40% shares.