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Daily press, 2005-09-15, 10:31 AM

ThyssenKrupp Elevator opens subsidiary in Ukraine

ThyssenKrupp Elevator AG, Düsseldorf, is investing in Ukraine and opening a subsidiary in Kiev with a view to participating in the expanding Ukrainian market. The market for elevators in Ukraine is currently small, accounting for only around 800 of the total of 300,000 new installations worldwide. ThyssenKrupp Elevator anticipates strong growth in this market in the future.

ThyssenKrupp Elevator Ukraine OOO, the first ThyssenKrupp Group company to be established in Ukraine, is being run as an independent company, to allow it to respond quickly to market requirements. Supported by the Regional Center in Vienna, the company is managed by Thomas Freiberger, who has already been working successfully for ThyssenKrupp Elevator in Ukraine for over a year. Freiberger: "The growing market and our promising start make us very optimistic about the future. We can be very proud of our achievements in the past few months, acquiring orders for new installations in some of the biggest and most prestigious construction projects in Kiev and Dniepropetrovsk - Arena City, City Trade Center, Trade Center MOST to name just a few. We are currently working on strengthening our presence in the region, and in addition to Kiev we have opened branch offices in Dniepropetrovsk, Donetsk and Kharkiv. We will continue to build up our service network and train our staff next year so as to be able to offer the best possible service on a nationwide basis - from installation and maintenance to repair and modernization."

ThyssenKrupp Elevator already has subsidiaries in Russia, Croatia, Slovakia, the Czech Republic, Hungary and Poland. Eastern Europe is one of ThyssenKrupp Elevator's declared growth regions.