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Daily press, 2015-10-14, 08:28 AM

ThyssenKrupp to localize world-class mobility solutions for fast-paced urban development in India

As India’s cities develop, the company is poised to supply locally produced, world-class mobility products equipped to deal with new heights, enhance sustainability, and provide energy efficiency.

Building on its strength of providing efficient mobility products for rapidly growing urban areas, ThyssenKrupp Elevator has lift-off on a new facility in India, where it will invest 44 million euro in a 20,000 sq.m. multi-purpose elevator manufacturing facility in the Chakan Industrial Area in Pune, Maharashtra. This facility will enable the company to cater to increasing demands from the local market, and is aligned with Prime Minister Narendra Modi’s ‘Make in India’ vision, aimed at promoting domestic manufacturing. ThyssenKrupp Elevator aims to complete the new facility in Pune in 2017 and achieve 95% manufacturing localization in the next 3 to 4 years. The facility’s initial capacity of 6,000 units per year will be extended to 10,000 units per year in FY 2019/20.

Andreas Schierenbeck, CEO of ThyssenKrupp Elevator, said, “India has ushered in a paradigm shift with its ambitious projects, 'Make in India' and '100 Smart Cities.’ Cities already contribute to a significant part of India’s GDP, and with the government focused on building smart cities, new housing complexes, airports, malls, railway stations and harbors, this share is projected to grow further. We are eager to participate in this growth by investing ahead of the curve and supporting the rapid urbanization in the country through locally manufactured, high-end technology engineering solutions, as well as the deep understanding of the market gained through ThyssenKrupp’s long-standing presence in the region.”

India has some of the fastest growing urban areas in the world and by 2020, the country will have 58 urban conglomerations. In big cities such as Mumbai, development is severely constricted by the lack of space, resulting in large-scale redevelopment of older properties into high-rise buildings, as well as new skyscraper constructions to house the ever-growing urban population. As efficient mobility is a key element in buildings that scale new heights, it is no surprise that India is also the fastest growing elevator market in the world.

About us:

thyssenkrupp Elevator

thyssenkrupp Elevator brings together the Group’s global activities in passenger transportation systems. With sales of 7.2 billion euros in fiscal 2014/2015 and customers in 150 countries, thyssenkrupp Elevator built its position as one of the world’s leading elevator companies from scratch in a mere 40 years’ time applying thyssenkrupp unique engineering capabilities. With more than 50,000 highly skilled employees, the company offers smart and innovative products and services designed to meet customers’ individual requirements. The portfolio includes passenger and freight elevators, escalators and moving walks, passenger boarding bridges, stair and platform lifts as well as tailored service solutions for all products. Over 900 locations around the world provide an extensive sales and service network to guarantee closeness to customers.

thyssenkrupp

thyssenkrupp is a diversified industrial group with traditional strengths in materials and a growing share of capital goods and services businesses. Around 155,000 employees in nearly 80 countries work with passion and technological expertise to develop high-quality products and intelligent industrial processes and services for sustainable progress. Their skills and commitment are the basis of our success. In fiscal year 2014/2015 thyssenkrupp generated sales of around €43 billion.

Together with our customers we develop competitive solutions for the challenges of the future in the areas Mechanical, Plant and Materials. With our engineering expertise we enable our customers to gain an edge in the global market and manufacture innovative products in a cost- and resource-friendly way. For us, technical progress and innovations, allied with the combined strength of the Group, are key factors enabling us to meet current and future customer and market requirements around the world, grow on the markets of the future, and generate strong and stable earnings, cash flows and value growth.