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Company News, 2005-08-25, 11:00 AM

ThyssenKrupp Elevator expands market position in Italy

ThyssenKrupp Ascensori s.r.l., Milan, a company of the ThyssenKrupp Elevator group, has acquired the shares in Ceteco s.r.l. in Pisa, Italy. Only in April 2004 ThyssenKrupp Elevator acquired a majority shareholding in Milan-based Marco Bonfedi Ascensori Scale Mobili s.r.l. With the acquisition of Ceteco, ThyssenKrupp Elevator is systematically pursuing its announced growth strategy in Italy.

Ceteco has been planning and producing stairlifts, platform lifts and vertical lifts at its own production site in Pisa for more than 20 years. With some 70 employees, the company generates sales of around 16 million euros. Products are manufactured for public buildings as well as private homes and sold through the company's own sales organization as well as independent agents.

By using an existing sales network, ThyssenKrupp Elevator hopes to strengthen its position in the growing Italian market for accessibility products. In addition, the expansion of its range, in particular to include vertical platform lifts, will reinforce the company's international product capabilities.

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