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Daily press, 2015-04-29, 10:04 AM

ThyssenKrupp streamlines structure of elevator division: Closer integration of regional business units will improve market presence and create greater synergies

Elevator Technology, the elevator division of ThyssenKrupp, is streamlining its structure to enable it to operate even more efficiently on the market in the future.

The number of its lead regional business units is being reduced from four to three. The main thrust of the restructuring is to consolidate the management of the company’s European operations. Elevator Technology aims to further increase efficiency, better leverage internal synergies and optimize collaboration. Andreas Schierenbeck, CEO Elevator Technology: “As a result of the integration we will reduce complexity, improve the efficiency of the operating units and create synergies within the business area.”

The new structure of the European operations supports the goal of being better equipped to meet future challenges. This is also to be achieved by developing new technologies and improving existing ones. At the same time Elevator Technology will continue to harmonize and streamline its product portfolio.

The realignment of the elevator division is part of ThyssenKrupp’s Strategic Way Forward. It follows the overriding goal of integrating ThyssenKrupp’s businesses more closely so as to create sustainable value as a diversified industrial group.

In fiscal year 2013/2014 Elevator Technology employed more than 50,000 people and generated sales of around €6.4 billion, of which 25 percent were in Europe (excluding Germany). The business area’s goal is to significantly improve its position among the world’s top 4. Various initiatives have been launched for this. The aim is to increase EBIT margin each year by 0.5 to 0.7 percentage points – as in the past two fiscal years – to reach 15 percent in the long term. That corresponds to an EBIT target of €1 billion.

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.