Elevator World

Welcome to the Elevator World News Podcast. Today’s podcast news podcast is sponsored by elevatorbooks.com: www.elevatorbooks.com ACQUISITION COMPLETE; THYSSENKRUPP ELEVATOR INDEPENDENT The acquisition of thyssenkrupp Elevator by private-equity firms Advent International and Cinven is complete, with all relevant regulatory authorities approving the transaction, thyssenkrupp Elevator announced on July 31. "The successful closing marks a new chapter in our history," CEO Peter Walker said. Advent and Cinven said they aim to grow thyssenkrupp Elevator through organic growth; carefully targeted acquisitions, particularly in Asia; energy-efficient product development; and R&D. As part of the change in ownership, thyssenkrupp Elevator will relocate its global headquarters from Essen to Düsseldorf, Germany, in 2021. With operations worldwide and more than 50,000 employees, thyssenkrupp Elevator had sales of EUR8 billion (US$9.4 billion) in 2018-2019. Service is its most important business, with approximately 1.4 mil