OEMs and independents see shakeups around the world.
IGV Names CEO/General Manager
Michele Suria has been named Milan, Italy-based IGV Group SpA’s CEO and general manager. Citing “extensive experience in management consulting and general management of small and medium- sized enterprises (SMEs),” Suria said his most recent position was chief financial officer at Implanta SpA. Prior to that, he was CFO and chief operations officer for Driade, a home design specialty company. He has served as a consultant for Deloitte Consulting, Accenture and BIP. He also worked for ItalianCreationGroup, Athena, Telecom Italia/ Tim, Vodafone, Siemens, Ferrari, Coin, Camozzi Group, Ansaldo, Biasi and several other SMEs in finance management, marketing, customer care, business development and process reengineering. He holds an MBA from Bocconi University in Milan with a focus on Strategy and Finance.
thyssenkrupp Elevator: IPO on the Way; Canada Investment
A New Path Forward
The executive board of thyssenkrupp AG has proposed to the supervisory board its elevator business be launched in an initial public offering (IPO), rather than splitting the company in two as thyssenkrupp Industrials and thyssenkrupp Materials (ELEVATOR WORLD, April 2019). The move is part of what the executive board described on May 10 as a “fundamental strategic realignment.” The move had been expected to end antitrust proceedings of the European Commission related to thyssenkrupp Steel Europe AG’s alleged role in suspected cartel agreements. thyssenkrupp and India’s Tata Steel assume the planned joint venture will be blocked by the commission in light of concerns not resolved by a market survey done in the wake of several concessions by the steel giants.
thyssenkrupp plans to reintegrate its Steel Europe business back into the group in the third quarter of this fiscal year. “The economic downturn and its effects on business development and the current capital market have led to the separation not being able to be realized as planned,” the company said. “Instead, thyssenkrupp will fundamentally realign itself to significantly improve operating performance.”
Expansion, Centralization in Canada
thyssenkrupp Elevator Canada’s Engineering Centre at 270 Finchdene Square in Scarborough, Canada, was expanded earlier this year. The company says the CAD3-million (US$2.23-million) facility is the only one of its kind in the country and features new-installation and modernization engineering, Canadian board repair, elevator simulators, a customer showroom and a parts warehouse. Hundreds of service technicians and sales personnel are trained there annually. Now, its construction and modernization teams, as well as one branch, are under one roof. More than 30 employees relocated there, bringing their number at the center to 87.
In further investment in Canada, the company centralized multiple locations into its new shared services facility at 2075 Kennedy Road in Toronto. The modern 17,000-ft2 space is home to its finance, procurement, information-technology, payroll, HR and safety departments. Its design mirrors the Finchdene facility, which the company said creates “a synergy throughout locations where open collaboration and vibrant spaces inspire employees to achieve more.”
Orona Holds AGM, Approves Consolidation Project
In April, Spanish manufacturing cooperative Orona held its annual general meeting (AGM), in which it approved the first phase of the “Orona EU” project, aiming, it said, “to consolidate the company as the only European lift operator capable of competing with the world’s four major lift multinationals.” This phase will run from 2019 through 2022 with the objective to boost its revenue to exceed EUR900 million (US$1.01 billion) and its headcount to above 6,000. It will focus on the challenges of digital transformation and innovation, which it sees as widespread throughout Europe. The following phases are planned for 2022- 2026 and 2026-2030, respectively. By the end of the project, Orona expects to be present in more than 14 countries (three more than currently) with 8,000 employees (5,151 currently) and annual revenue near EUR1.2 billion (US$1.35 billion).
Priorities in the plan are Orona’s technological independence, transformation for a digital world and job creation. It expects approximately 350 jobs to have been created at its corporate headquarters. Another topic covered at the AGM was the company’s growth of 5.1% in 2018, marking a revenue of EUR741 million (US$833.3 million). International sales accounted for 57% of that number, with year-on-year growth of 3.13%. More details can be found in its 2018 annual report, available as a PDF here: bit.ly/2KLM6SK.
Invertek Partners With Balkans’ EPS, Expands
Invertek Drives Ltd. of Welshpool, U.K., has appointed Electro Pneumatic Solutions (EPS) as its sales partner for Serbia, Kosovo, Macedonia and Montenegro. Belgrade, Serbia-based EPS will be adding Invertek’s variable-frequency-drive (VFD) products to its automation and industrial process line, providing sales and service of the Invertek Optidrive range.
Invertek also announced the completion of a new 5,500-m2 global manufacturing and distribution center at its headquarters. It said the new facility will allow it to increase production to more than 500,000 VFDs a year.
EHC Global Opens Spain Facility to Support EMEA Growth
Escalator handrail, component and services provider EHC Global recently opened a facility in Seville, Spain, to support growth in Europe, the Middle East and Africa (EMEA). Located in the La Negrilla district, the three-story facility houses sales, project management, customer service and administrative offices, as well as provides space for production, assembly and storage. It joins EHC facilities in Santander and Madrid. EHC Global President and CEO Jeno Eppel and Managing Director, Central Region Norman Rosnersky presided over a ribbon cutting in May. Miguel Chías González-Blanch, general manager, Spain & Portugal, observed, “Our new facility will enable us to meet the growing demands and future needs of our customers in the region.”