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Company News, 2015-04-29, 10:04 AM

ThyssenKrupp streamlines structure of elevator division: Closer integration of regional business units will improve market presence and create greater synergies

Elevator Technology, the elevator division of ThyssenKrupp, is streamlining its structure to enable it to operate even more efficiently on the market in the future. The number of its lead regional business units is being reduced from four to three. The main thrust of the restructuring is to consolidate the management of the company’s European operations. Elevator Technology aims to further increase efficiency, better leverage internal synergies and optimize collaboration. Andreas Schierenbeck, CEO Elevator Technology: “As a result of the integration we will reduce complexity, improve the efficiency of the operating units and create synergies within the business area.”

The new structure of the European operations supports the goal of being better equipped to meet future challenges. This is also to be achieved by developing new technologies and improving existing ones. At the same time Elevator Technology will continue to harmonize and streamline its product portfolio.

The realignment of the elevator division is part of ThyssenKrupp’s Strategic Way Forward. It follows the overriding goal of integrating ThyssenKrupp’s businesses more closely so as to create sustainable value as a diversified industrial group.

In fiscal year 2013/2014 Elevator Technology employed more than 50,000 people and generated sales of around €6.4 billion, of which 25 percent were in Europe (excluding Germany). The business area’s goal is to significantly improve its position among the world’s top 4. Various initiatives have been launched for this. The aim is to increase EBIT margin each year by 0.5 to 0.7 percentage points – as in the past two fiscal years – to reach 15 percent in the long term. That corresponds to an EBIT target of €1 billion.

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