ThyssenKrupp Buys UK Elevator Business
December 08 2014 - 5:24AM
Dow Jones News
By Neetha Mahadevan
FRANKFURT--Steelmaker ThyssenKrupp AG said Monday it has
acquired U.K's Lift & Engineering Services Ltd. for an
undisclosed amount, as part of its strategy to strengthen global
reach and expand its elevator technology business.
Lift & Engineering Services, or LES, specialises in lift
equipment and drive systems, and also provides maintenance, repair
and emergency response services for any lift, escalator, or
hoisting equipment.
ThyssenKrupp's elevator business has been acquiring established
small and medium-size lift companies in the U.K. and other
countries for several years. The LES acquisition is its most
significant acquisition in the U.K. since Hammond & Champness
in 1999, ThyssenKrupp said.
Write to Neetha Mahadevan at neetha.mahadevan@wsj.com
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