Company News, 2005-11-03, 11:16 AM
Market entry in Taiwan
ThyssenKrupp Elevator AG, Düsseldorf, has acquired a 100% interest in Sun Rhine Enterprises Ltd. (SRE) and its smaller sister company Sun Rich Enterprises Ltd., Taiwan. SRE has been ThyssenKrupp's exclusive distributor since the mid-1970s. The company is involved in the installation, servicing, repair and modernization of elevators, escalators and facade lifts. In 2004, SRE had 150 employees and generated sales of some 17 million euros. To date, it has concentrated on serving the upper end of the market with products from Germany.
With 4,400 units, Taiwan is Asia's fifth biggest market for new installations behind China, Japan, South Korea and India. This acquisition serves ThyssenKrupp Elevator's strategic objective of establishing its own presence on the Taiwanese market. It also secures the long-term servicing of its own installations.
ThyssenKrupp Elevator is already an important player in the Asian growth market, with around 120 branches and bases in China, South Korea, Hong Kong, Singapore, Thailand, Malaysia, India and Vietnam.