Germany’s Biggest Steelmaker Set to Unveil a Future Beyond Steel
- Thyssenkrupp seeks to transform itself with elevator prototype
- Profit share from steel sinks as earnings from technology grow
An elevator shaft at Thyssenkrupp Elevator's testing tower in Rottweil, Germany.
Photographer: Thomas Lohnes/Getty ImagesThis article is for subscribers only.
It is a mark of the transformation going on at Thyssenkrupp AG that the most profitable operation at Germany’s biggest steel company is producing elevators not metal.
The industrial giant, with roots dating to 1811, has poured research into its elevator unit to turn what was a sideline into a primary business. The strategy is Thyssenkrupp’s bid to survive in an international steel market flooded with cheap imports from Chinese rivals.