In the last decade, the price of the dollar in Colombia has increased its value by about 170%, going from $1,700 to around and even exceeding $5,100 in some days. This phenomenon, which intensified considerably throughout 2022, has impacted the commercial dynamics of vertical transport in the country, which includes mobility through elevators, escalators, moving walkways and ramps.
Despite the foregoing, Estilo Ingeniería SA managed to increase its share of the new elevator sales market by 7%, going from 15% of the total of that market in 2021 to 22% by the end of 2022, thus confirming that it is one one of the leaders in the vertical transportation sector in Colombia and that led elevator sales during that year.
Liney Malaver, Executive Director of Estilo Ingeniería, stated that: “for some years now, our market information has been showing us that the future of the business lies in multi-brand maintenance and modernization services; Proof of this is that the business line that most leveraged our operation in 2022 was maintenance. Precisely for this reason, this year we are strengthening the multi-brand offer, with which we plan to build a more comprehensive portfolio”.
Regarding the generation of employment, Engineering Style was the source of direct employment for 919 people in Colombia, 7.2% more than in 2021; and plans to hire more than 100 people in 2023.
The company, which has extensive national coverage in the field of modernizations, and advises administrations on vertical transport engineering, increased its commercial sales records for modernizations by 14% in the markets of Antioquia, Santander, Norte de Santander, Eje Cafetero and the southwest of the country.