BERLIN: German elevator maker ThyssenKrupp expanded its production and innovation capacity with an eye on China’s urbanization drive by launching a new 120 million yuan (US$18.5 million) headquarters in Shanghai yesterday.
The new site, located in Shanghai’s Songjiang District, also incorporates plants that will manufacture key products including elevators, escalators and moving walkways.
“China is our most important market in Asia. In the last five years, ThyssenKrupp has invested more than 500 million euros into various businesses in China. Our elevator business is a very important part of these investments,” said Heinrich Hiesinger, chairman of ThyssenKrupp Group.
Jurgen Bohler, CEO of ThyssenKrupp Elevator China, said the company will buy additional land to build a new electrical workshop and logistics center.
