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TK Elevator, formerly known as Thyssenkrupp Elevator, has an extensive history within the elevator and escalator industry. It originated as part of Thyssenkrupp AG, a major German conglomerate, but became an independent entity in July 2020 after its acquisition by private equity firms Advent International and Cinven. This transition allowed TK Elevator to focus more intensively on expanding its global footprint and innovating in urban mobility solutions, such as the ropeless MULTI elevator system and predictive maintenance technology MAX. The company is also committed to environmental sustainability, setting science-based targets to achieve net-zero emissions by 2050.
TK Elevator now operates globally, with over 50,000 employees and annual revenues around €8 billion, underscoring its strength in the elevator and escalator sector and its focus on sustainable and forward-looking technologies.
The key historical years for thyssenkrupp AG and the transformation into TK Elevator:
1865
The businesses of the Thyssen and Krupp families were established in Hamburg and Stuttgart, Germany.
1970
ThyssenKrupp initiated its elevator and escalator business under the ThyssenKrupp Elevator division.
1987
The company began expanding into home solutions, developing elevators for residential use.
1995
ThyssenKrupp Elevator expanded its elevator and escalator business into Asian markets.
1999
Thyssen and Krupp merged to form “ThyssenKrupp AG,” strengthening the company in various sectors and enhancing its global competitiveness.
2020
ThyssenKrupp AG sold its elevator division to Advent International and Cinven as part of its restructuring, marking the inception of TK Elevator.
2021
The newly established company was rebranded as TK Elevator, signifying its separation from ThyssenKrupp and the beginning of a new era focusing on innovation and sustainability in elevators and escalators.
2023
Ultimate Lift Co., Ltd. was appointed as the authorized distributor in Thailand, offering comprehensive services, including installation and after-sales support.
With a history spanning over 150 years, TK Elevator now employs more than 50,000 people worldwide and generates approximately €8 billion in annual revenue, reflecting its robust position in the elevator and escalator industry. The company is also committed to environmental sustainability, setting science-based targets to achieve net-zero greenhouse gas emissions by 2050.
