ThyssenKrupp, one of Germany's major technology leaders, intends to
double its sales in China to EUR2 billion by 2012, and plans to invest
EUR500 million in the Chinese market, Reuters reports.
CEO Ekkehard Schulz outlined the plans in a speech to the media in
Shanghai. He did not specify how the money will be spent, although he
added that ThyssenKrupp had no plans to set up a new steel joint
venture or to buy a competitor in China.
ThyssenKrupp employees 4,800 people in China in the areas of steel,
capital goods and services. It is involved in fierce competition with US-based Otis, Switzerland's Schindler and Japan's Kone to equip the
rapidly increasing number of business centres and shopping malls in
China's first- and second tier cities with elevators and escalators.
News & Interviews 
ThyssenKrupp, one of Germany's major technology leaders, intends to
double its sales in China to EUR2 billion by 2012, and plans to invest
EUR500 million in the Chinese market, Reuters reports.
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