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Daily Press, Trade press, 2015-10-14, 12:31 PM

THYSSENKRUPP JOINS THE MAKE IN INDIA MISSION

TO SET UP A MANUFACTURING FACILITY IN THE WORLD’S FASTEST GROWING ELEVATOR MARKET

Mumbai, October 14, 2015: ThyssenKrupp Elevator, a part of diversified industrial group ThyssenKrupp AG, today announced it will set up a state-of-the-art multipurpose manufacturing plant in the Chakan Industrial Area in Pune, Maharashtra, with an investment of 44 million euros (₹300 crore).

This facility will enable the company to cater to increasing demands from the local market, and is aligned with Prime Minister Narendra Modi’s ‘Make in India’ vision, aimed at promoting domestic manufacturing.

On this occasion, Dr. Michael Thiemann, CEO, ThyssenKrupp India said, “India has ushered in a paradigm shift with its ambitious vision, 'Make in India', to boost the local manufacturing sector and uplift the economy. We are eager to participate in this growth by investing ahead of the curve and support the rapid urbanisation in the country through locally manufactured, high-end technology engineering solutions”.

India has some of fastest-growing urban areas in the world and by 2020, the country will have 58 urban conglomerations. There has been a vast increase in the number of high-rise buildings constructed in the country, and with efficient mobility as a key factor in buildings that scale new heights, it is no surprise that India is also the fastest growing elevator market in the world. In view of these elements, ThyssenKrupp Elevator is seizing the moment and focusing on localising its production in the country.

Commenting on the new facility, Mr. Bharat Vishnani, Managing Director of ThyssenKrupp Elevator India, said, “With the government focused on building 100 Smart Cities, including new housing complexes, airports, malls, railway stations, and harbours, we are expecting to see a significant increase in demand for mobility solutions in India. Through our expertise in smart mobility products and long-standing presence in India, ThyssenKrupp is perfectly poised to support this aspect of India’s growth story”.

ThyssenKrupp Elevator aims to complete the new facility in 2017 and achieve 95% manufacturing localisation in the country in the next 3-4 years. The facility’s initial capacity of 6,000 units per year will be extended to 10,000 units per year in FY 2019/20. In addition, the company will establish a SEED Campus (ThyssenKrupp Elevator’s training academy) on-site to improve service efficiency in the field. ThyssenKrupp Elevator will also transition key departments, such as contract engineering, from Mumbai to Pune, with the intention of localising the workforce and building on local talent.

To better cater to local demand, ThyssenKrupp Elevator plans to introduce new elevator and escalator products which are innovative and fully-adjusted to Indian market requirements.

In addition, the company plans to strengthen its Maintenance Services business in the country through highly trained engineers and technicians providing timely and world-class service locally.

Recent Innovations Introduced

In 2014, ThyssenKrupp Elevator presented the ACCEL, a new transportation system capable of attracting up to 30% additional passengers to metro stations and cutting transit times in airports by up to two-thirds. ACCEL is a solution tailored for countries such as Brazil and China, which are experiencing rapid urban development.

Also last year, for the mid and high-rise buildings construction industry, ThyssenKrupp Elevator launched the world’s first rope-free, multi-cabin elevator system, MULTI. By using maglev (linear electro-magnetic) technology from the Transrapid train, this innovation allows the motion of multiple cars in the same shaft both vertically and horizontally, thus giving free rein to architects’imaginations and increasing transport capacities and efficiency by 50% while reducing the elevator footprint and peak loads from the power supply in buildings.

About ThyssenKrupp Elevator

ThyssenKrupp Elevator brings together the Group’s global activities in passenger transportation systems. With sales of 6.4 billion euros in fiscal 2013/2014 and customers in 150 countries, ThyssenKrupp Elevator has applied the company’s unique engineering capabilities to its technology and become one of the world’s leading elevator companies in only 40 years. With more than 50,000 highly skilled employees, the company offers smart products and services designed to meet customers’ individual requirements. Its innovative solutions aim to contribute to the development of smarter cities. The portfolio includes passenger and freight elevators, escalators and moving walks, passenger boarding bridges for airports, stair and platform lifts as well as tailored service solutions. Its 900 locations around the world provide an extensive sales and service network to guarantee closeness to customers.

About ThyssenKrupp India

ThyssenKrupp, a diversified industrial group, began its journey in India way back in 1860. As the third largest market for the group in Asia-Pacific we have over 5,700 employees across ten operating units. Our products and services range from complete plant design and engineering to building industrial plants, marine systems and elevators to engine components, bearings and undercarriages to materials services. We leverage the engineering expertise within our global network to give our customers the competitive edge.

About ThyssenKrupp AG

ThyssenKrupp is a diversified industrial group with traditional strengths in materials and a growing share of capital goods and services businesses. Over 155,000 employees in nearly 80 countries work with passion and technological expertise to develop high-quality products and intelligent industrial processes and services for sustainable progress. Their skills and commitment are the basis of our success. In fiscal year 2013/2014 ThyssenKrupp generated sales of around €41 billion.

Together with our customers we develop competitive solutions for the challenges of the future in the areas Mechanical, Plant and Materials. With our engineering expertise we enable our customers to gain an edge in the global market and manufacture innovative products in a cost- and resource-friendly way. For us, technical progress and innovations, allied with the combined strength of the Group, are key factors enabling us to meet current and future customer and market requirements around the world, grow on the markets of the future, and generate strong and stable earnings, cash flows and value growth.

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