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October 11, 2005

Elevator business is going up as General merges with ThyssenKrupp

VICTORIA

Vancouver Island success story, General Elevator has joined ThyssenKrupp Elevator in a move that will foster growth to the Canadian and Vancouver Island elevator industry.

General Elevator, in the 15 years since its inception, has grown to be the third largest independent elevator company in Canada. With over 1000 elevators in their service portfolio and a strong hold on the Island’s new construction market, co-founder John Dodd deliberated over “what next” for the family-owned company.

“ThyssenKrupp’s General Elevator Division is just what is needed to be able to sustain the premium level of service our customers have grown to appreciate and expect from General Elevator,” says Victoria native, John Dodd.

“The Island is under-serviced and this merger enables us to have the resources to properly fulfill our commitment to the community.

We are also delighted to keep our commitment as employers, with all employees staying on with the new division.”

“The success of General Elevator on Vancouver Island has been their ability to build trust with their customers by personalizing the business and instilling a culture of responsiveness through the entire company,” said Ryan Wilson, Senior Vice President for ThyssenKrupp in Canada.

“The elevator business suffers from the same scarcity of manpower and skilled labour as most other technical building trades, and getting access to some of the best talent in the industry has made this a true win-win merger.”

ThyssenKrupp Elevator is a Fortune 500 company that follows a decentralized structure. Having a localized presence, with a grass roots focus, fits with ThyssenKrupp’s global strategy of building lasting personal relationships with their customers and employees.

ThyssenKrupp Elevator is the largest elevator company in Canada. ThyssenKrupp Elevator manufactures, installs and services elevators throughout the country. Employing over 1400 people in over 58 offices, represented in every province and territory, it is currently the only multi-national elevator company to retain a manufacturing presence in Canada.

Financial details of the merger were not disclosed.

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