Thyssenkrupp Elevator CEO on Industry Consolidation, Production

The transcript features an interview with Andreas Schierenbeck, CEO of Thyssenkrupp Elevator, discussing the impact of trade wars on the elevator industry. Schierenbeck explains that the local nature of elevator production mitigates the effects of trade tensions. He also addresses industry consolidation, the influence of rising steel prices, and strategic decisions involving Thyssenkrupp's steel business. The discussion concludes with insights into customer perceptions and the global presence of Thyssenkrupp Elevator.

How does Thyssenkrupp Elevator manage to mitigate the effects of global trade wars?

• By producing elevators only in Germany

• Through local production in multiple countries

• By importing all parts from China

• By reducing the workforce

What is a significant challenge in consolidating the elevator industry?

• High cost of raw materials

• Political and market dominance issues

• Lack of skilled labor

• Technological barriers

Why might Thyssenkrupp Elevator benefit from being part of a larger steel-producing group?

• Access to discounted steel prices

• Ability to operate independently

• Focus solely on elevator technology

• Avoidance of trade regulations

What is a common misconception about the materials used in elevators?

• Elevators are made entirely of glass

• Elevators use a lot of wood

• Elevators are primarily made of steel

• Elevators are mostly plastic

What strategic question does Thyssenkrupp Elevator face regarding its parent company?

• Whether to expand into new markets

• Whether to remain part of Thyssenkrupp

• Whether to reduce the workforce

• Whether to increase production in Germany