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Daily press, 2003-01-22, 12:00 AM

ThyssenKrupp Aufzüge to relocate production <br>Closure of Mylau plant

The Management Board of ThyssenKrupp Aufzüge GmbH has decided to close its Mylau site in the coming months and relocate production to the Neuhausen a.d.F. facility. The Mylau plant has around 120 employees and manufactures some 300 elevators, including units for prefabricated buildings.

The closure is in response to the continuing structural crisis in the German construction industry, which is impacting particularly severely on the Eastern German states. The declining market in this region has led to an alarming decrease in earnings at the Mylau facility. Unlike its competitors, who are largely giving up their production sites, ThyssenKrupp Aufzüge intends to maintain its own manufacturing capabilities in Germany. This makes it essential to consolidate production.

In the middle of last year, the company began an in-depth strategic analysis of the Mylau plant. Based on the findings of this analysis, the Management Board sees no strategic perspectives for the site. Efforts to sell the Mylau plant to an international component manufacturer have also failed due to the progressively worsening situation in the German construction industry and inadequate workloads.

ThyssenKrupp Aufzüge will now begin negotiations with the works council on a redundancy plan to cushion the impact of the necessary job cuts. The management of ThyssenKrupp Aufzüge GmbH intends to take a proactive approach in attempting to find alternative employment for Mylau employees at other company locations.


Dr. Rembert Horstmann
ThyssenKrupp Elevator AG
Communications &amp; Marketing
Phone +49 (211) 824-38414
Fax +49 (211) 824-36839