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Capital market-relevant press releases, 2001-11-14, 01:00 AM

ThyssenKrupp Elevator takes over Kone`s South American activities

Under its internationalization program, ThyssenKrupp Elevator, the third biggest elevator manufacturer in the world with sales of euros3.5 billion and 28,000 employees, is expanding its activities in South America by taking over the elevator activities of Finnish manufacturer Kone in the region. These activities focus on Brazil, where the company has a service base of 8,000 installations and generates sales of some euros20 million. Altogether Kone has sales of around euros28 million and 500 employees in South America.

Following the acquisition of the Brazilian elevator manufacturer Elevadores Sûr in 1999 with sales in excess of euros100 million and around 1,400 employees, the present takeover will further enhance ThyssenKrupp Elevator`s strategic position on the South American markets, taking sales to euros165 million and the number of employees to 2,200.

Above all the acquisition of Kone`s subsidiaries in Brazil, Argentina, Venezuela and Chile offers ThyssenKrupp Elevator the opportunity to significantly strengthen its services business in Brazil, where it already services more than 24,000 installations. The expansion will increase the current service base by 33%.

Above all the acquisition of Kone`s subsidiaries in Brazil, Argentina, Venezuela and Chile offers ThyssenKrupp Elevator the opportunity to significantly strengthen its services business in Brazil, where it already services more than 24,000 installations. The expansion will increase the current service base by 33%.

Contact:
Klaus Pepperhoff
ThyssenKrupp AG
Zentralbereich Kommunikation / Presse
August-Thyssen-Straße 1
40211 Düsseldorf
Phone: + 49 211 824-36007
Fax: + 49 211 824-36041
E-Mail: presse@tk.thyssenkrupp.com

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