SOURCE: ThyssenKrupp Access

May 08, 2008 03:00 ET

ThyssenKrupp Access Acquires National Wheel-O-Vator

Acquisition Positions ThyssenKrupp Access as the Largest Manufacturer of Home Elevators and Accessibility Equipment in North America

GRANDVIEW, MO--(Marketwire - May 8, 2008) - ThyssenKrupp Access, a leading manufacturer of home elevators and accessibility equipment, has acquired The National Wheel-O-Vator Company of Roanoke, Illinois.

"Combining the forces of ThyssenKrupp Access and National Wheel-O-Vator will give builders and consumers more choices to meet their accessibility and home elevation needs," said Thomas Hance, President, ThyssenKrupp Access. "This move solidly positions our new entity as the largest and most comprehensive manufacturer of home elevators and accessibility equipment in North America."

National Wheel-O-Vator, a privately owned company founded in 1982, generated sales of $42 million in 2007 and currently has 170 employees. The company has been manufacturing and selling residential elevators, wheelchair lifts and Limited Use/Limited Application (LU/LA) elevators though a network of independent dealers throughout the United States. Greg Harmon, co-owner and CEO of National Wheel-O-Vator, said, "This transaction fulfills our family's vision of being a major player in the worldwide accessibility market."

The ThyssenKrupp Group, based in Duesseldorf, Germany, is a global technology company which consists of five business segments -- Steel, Stainless, Technologies, Elevators and Services. In the fiscal 2006/2007 year the company had annual sales of EUR 51.7 billion ($68.7 billion) and employed approximately 191,000 people in over 70 countries.

ThyssenKrupp Access, headquartered in Grandview, Missouri, has been one of the world's leading accessibility equipment and home elevator manufacturers since 1947, with approximately 270 employees. Equipment manufactured at its Grandview plant includes stair lifts, wheelchair lifts and elevators for residential and commercial use. ThyssenKrupp Access has more than 1,000 dealers along with 19 companies owned and operated field sales offices in the USA.

For more information about ThyssenKrupp Access, visit the company's web site at www.tkaccess.com.

About ThyssenKrupp Access:

ThyssenKrupp Access operations can be found in every state in the U.S. There are 70 ThyssenKrupp companies in more than 400 locations accounting for 24,000 employees and more than $9.5 billion in annual sales. Through its predecessor companies, ThyssenKrupp has been part of the U.S. historical landscape for 170 years, dating back to 1837 when Alfred Krupp, founder of predecessor company Krupp, provided coin minting machine prototypes to the U.S.