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Company News, 2004-07-12, 02:00 AM

ThyssenKrupp Elevator moves into the New Zealand market

100% share acquired in Elevator Technologies Pty Limited, Auckland, New Zealand

ThyssenKrupp Elevator Australia Pty Ltd., a subsidiary of ThyssenKrupp Elevator AG, Düsseldorf, has acquired a 100% share in Elevator Technologies Pty Limited (ETPL), based in Auckland, New Zealand.

This acquisition gives ThyssenKrupp Elevator direct access to the New Zealand service market (approx. 5,500 - 6,000 units). ETPL is a small, regional company operating exclusively in the elevator service sector. The previous owners will remain at the company as Managing Directors and expect that joining the ThyssenKrupp Elevator group will open up new growth potential.

ThyssenKrupp Elevator intends to expand the business with its own products, particularly in the new installation sector, by using existing customer contacts and ThyssenKrupp Elevator Australia`s resources. The aim is to establish a lasting presence in New Zealand in the medium-term.

ThyssenKrupp Elevator is the third-largest elevator company in the world and has a presence in more than 60 countries at over 800 locations. With over 30,000 employees, the company achieved sales of around 3.4 billion euros in the fiscal year to September 30, 2003. Capabilities include passenger and freight elevators, escalators and moving walks, stair and platform lifts, passenger boarding bridges as well as high-quality service for the entire product range.

Contact:

Dr. Rembert Horstmann
ThyssenKrupp Elevator AG
Communication & Marketing
Tel.: +49 211 8 24-3 84 14
Fax: +49 211 8 24-3 68 39
E-mail: rembert.horstmann@thyssenkrupp.com

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