Symbol go
GD RT         Turnover  mln.
COMPANY NEWS

Kleemann Expands Activities In China

  e-mail
Kleemann aims to have proceeded with the production of the first Greek elevator in China within the year, said the company’s general manager Kostas Koukountzos.

Company had invited customers to the new testing tower of the company, the first in Greece and the fourth largest private tower in Europe, with its cost exceeding €5m. 

The listed company, which established the Chinese subsidiary Hong Kong Elevator Systems Limited last year, is proceeding with the creation of an elevator production plant in the industrial area Koonsang, where all major multinationals in the sector of elevators (Thyssen, Otis, Kone, Mitsubishi, Fujitech) are located and produce more than 50% of the global market. 

It is estimated that 265,000 elevators were sold in China last year in total 500,000 worldwide.

“We go there because we want to sell in China. This is our main goal,” said Kostas Koukountzos, adding that Kleemann doesn’t seek to lower costs but it is interested in this market. Kleemann is considered one of the 7 major companies of the international elevator market. But, its insignificant presence in China had a cost: its global share has dropped to 1.5% from 3%, although the figures in all the other markets remained unchanged. 

Besides the Chinese market, the new Shanghai plant would push ahead the sales in Southeastern Asia and Oceania, as it is estimated to decrease transport costs by more than 50%. 

Kleemann estimates that the Greek market is expected to shrink from €34m to €28m, but the upward improvement of foreign markets such as Turkey, Serbia and Great Britain is expected balance domestic losses. Sales in Turkey are expected to reach €17m from €15m in 2010 and €4.1m from €3.3m in Serbia, while sales in G.Britain is expected to reach €4m from €2.7.
Follow Capital.gr to Social Media
  Did you find this article interesting?: