Company gets a lift from new owner

Mar 28 2008 by Andrew Mernin, The Journal

SUBSTANTIAL new investment looks likely at a stairlift company after it was bought by a German competitor which has praised the North East company’s manufacturing skills.

German-owned ThyssenKrupp’s takeover of Lift Able will be good news for businesses on Teesside, as the multi-billion pound Euro giant plans to pump investment into a firm which was honoured only last year for its commitment to local suppliers.

Angus Long, commercial manager for Lift Able, says there are now plans to ramp up production and staffing following the acquisition. He said: “ThyssenKrupp has been anxious to get in the UK market – the world’s biggest – for some time. The UK market is by far the most lucrative. Around 40% of the world’s stair lifts end up here.

“They acknowledged their product was not as good as ours. They could have developed their own, but that’s expensive and takes time.

“What it means for us is investment and stability, so we are intending on expanding our UK operations. We expect manufacturing to go up, and we use local suppliers, so as our production goes up, their business will go up.”

The Lift Able brand will continue under the new ownership. Jim Simmonds, Lift Able’s owner, added: “We are very pleased to have found a strong partner in ThyssenKrupp Access.”

ThyssenKrupp, the major supplier of lifts to the Beijing Olympics, said the deal would ‘significantly strengthen’ its market position.

“Joining forces now we will be able to expand further our activities and offer tried-and-tested products, not just in the UK, but European markets as well,” said ThyssenKrupp Access chairman Mauro Carneiro.

Established in 1991, with 87 staff and a turnover of more than £10m, Lift Able is one of Europe’s five largest manufacturers of straight stair-lifts, while ThyssenKrupp supplies stair-lifts, platform lifts and home lifts from 15 countries.