ThyssenKrupp Elevator buys 25% stake in Eros Elevators

Leading global elevator company ThyssenKrupp Elevator today said it bought 25.1 percent stake in Eros Elevators & Escalators for an undisclosed sum as part of its expansion plans here.

"With rapid growth in the diversity and size of the realty market, customers are increasingly seeking complete solutions from reliable providers of elevators and escalators. The deal with help us in expanding its presence in this market," ThyssenKrupp said in a statement here.

The company's portfolio includes passenger and freight elevators, escalators and moving walks, passenger boarding bridges, stair and platform lifts as well as tailored service solutions for all products.

"ThyssenKrupp's mid to high-end products and national network, combined with Eros' economical, high quality elevators for the fast growing industrial and affordable housing segments, will provide customers across India a dependable source of complete elevator and escalator solutions," it said.