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Company News, 2013-09-10, 10:01 AM

ThyssenKrupp Elevator remains on growth track

ThyssenKrupp Elevator is further expanding its new installations and service business in Germany: As part of its growth strategy the company has now acquired all operations of Eggert Aufzüge GmbH (Troisdorf) and EGGERT Lift-Technik GmbH (Berlin).

“The acquisition is a continuation of our ambitious growth plans,” said Andreas Schierenbeck, CEO of ThyssenKrupp Elevator AG. “Eggert enjoys an excellent reputation with its customers. Its strong local presence, in particular in the Rhineland region and Berlin, is the ideal fit with our market position in Germany.”

Established over 40 years ago, Eggert Aufzüge is specialized in the design, engineering, manufacture, installation and servicing of tailored elevator solutions for residential and commercial buildings. The same is true of EGGERT Lift-Technik, based in Berlin since 1990.

“As a family-owned company, we need to think about succession planning,” said Detlef Eggert, Managing Director of Eggert Aufzüge GmbH. “Securing the long-term competitiveness of Eggert’s elevator operations was a key factor in our decision to sell to ThyssenKrupp Elevator.” Winfried Eggert, Managing Director of EGGERT Lift-Technik GmbH, added: “As one of the world’s leading elevator companies, ThyssenKrupp Elevator offers ideal conditions for us to maintain and grow our business.”

As part of ThyssenKrupp’s strategic development program and the systematic expansion of its technology business, ThyssenKrupp Elevator has been acquiring established small and medium-size elevator companies in Germany and abroad for several years. For ThyssenKrupp Elevator, this addition to its service business opens up further opportunities for improved efficiency and profitable growth. The takeover of Eggert’s elevator business is its most significant acquisition in Germany since Tepper Aufzüge in 2003.

Following the signing of the purchase contracts, the transaction has already been approved by the companies’ supervisory bodies and the responsible regulatory authorities. The closing and transfer of all shares to ThyssenKrupp Elevator is expected in the coming weeks.

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