IRAN ELEVATOR OUTPUT DROPS BY MORE THAN HALF SINCE 2013-2014

       Annual elevator production in Iran dropped from 70,000 units in 2013-2014 to 25,000-30,000, the Financial Tribune reports. The source quoted Abbas Abrishami, head of the country's National Elevator Union, which has approximately 1,800 members. Abrishami told the Islamic Republic News Agency Iran has annual capacity of 80,000, but a construction recession resulted in low demand. Strong output in 2013-2014 was fueled by a large public-housing scheme, Mehr, launched by former President Mahmoud Ahmadinejad. Approximately 750,000 elevators are used by roughly 250 million riders daily.