ThyssenKrupp Elevator Further Strengthens Its Market Position in North America

ALPHARETTA, Ga., Dec. 5, 2011 /PRNewswire/ -- ThyssenKrupp Elevator has acquired the business operations of Sterling Elevator Services Corporation, headquartered in Edmonton, Alberta. Sterling Elevator Services Corporation (SES) is a full-service elevator company providing new installation, maintenance, repair and modernization in the province of Alberta. SES has been successfully serving building owners, management companies, architects, and general contractors since 1992.

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In May 2011, ThyssenKrupp AG decided on an integrated strategic development program to move the group forward competitively and sustainably. Achieving growth is one of the aims of this program. In this context, the acquisition is an important step toward systemically expanding the company's technology business.

"The acquisition of Sterling Elevator Services further strengthens our position in North America. The solid presence of Sterling Elevator in the Canadian market is a true asset for our growth strategy in the region," said Dr. Olaf Berlien, Executive Board Chairman of ThyssenKrupp Elevator AG.

The acquisition of Sterling Elevator Services Corporation is the third acquisition completed by ThyssenKrupp Elevator AG in the last three months in North America. The company announced its acquisition of Florida-based General Elevator Sale and Service Inc., in September 2011, and Philadelphia-based United Elevator Company in October 2011.

About ThyssenKrupp Elevator

The Elevator Technology business area brings together the ThyssenKrupp Group's global activities in passenger transportation systems. With 46,000 employees, sales of 5.3 billion euros ($7.4 billion) in fiscal 2010/2011 and customers in 150 countries, ThyssenKrupp Elevator is one of the world's leading elevator companies. Its portfolio includes passenger and freight elevators, escalators and moving walks, passenger boarding bridges, stair and platform lifts as well as tailored service solutions for all products. 900 locations around the world provide an extensive sales and service network to guarantee closeness to customers.

SOURCE ThyssenKrupp Elevator