ThyssenKrupp Elevator subsidiary acquires largest US accessibility products dealer

Whitaker Company, Yonkers/New York

ThyssenKrupp Access Corp. in Grandview, Missouri/USA, a subsidiary of ThyssenKrupp Elevator AG, Düsseldorf/Germany, has acquired The Whitaker Company, Yonkers/New York. Whitaker is an established and reputable dealer in accessibility products such as stair lifts, platform lifts and home elevators and has a strong presence in the northeastern USA, a region which accounts for some 40 percent of the total US accessibility products market. Whitaker`s CEO, Malcolm A. Miller, is entering retirement. Stephen Maliniak, President of Whitaker, will strengthen the management team of ThyssenKrupp Access in the northeast region of the USA.

ThyssenKrupp Elevator`s objective in making this acquisition is to further expand its own field organization and establish a closer presence than before to US customers.

With a workforce of around 300, ThyssenKrupp Access produces, installs and services accessibility products in the USA. The acquisition of Whitaker boosts the company`s market share to over 30 percent.

ThyssenKrupp Elevator`s Accessibility business unit employs some 800 people and generates total sales of around 150 million euros. ThyssenKrupp Elevator is global market leader in this sector, which is dominated by small and medium-size enterprises.

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