KUALA LUMPUR, April 4 — ThyssenKrupp AG, a German multinational conglomerate with 670 companies worldwide, aims to garner a firmer foothold in Malaysia and capitalise on the nation’s economic growth towards Vision 2020.

Its Chief Executive Officer, Dr Heinrich Hiesinger, said Malaysia was one of the fastest growing markets in the region and it provided ample opportunities for the group.

“It is an opportunity for us to be here... we are not coming in and going out of the country... we are staying for the long run,” he told reporters at a media interview, recently.

ThyssenKrupp, one of the world’s largest diversified industrial and engineering groups, has also inaugurated its new office located at The Pinnacle, Bandar Sunway recently.

Hiesinger said the group’s plan in Malaysia would not focus on physical assets, but more towards skills enhancement as the knowledge of its employees would make a difference.

“In Malaysia, the company is known for its elevator business from the consumers’ perspective but in terms of industry, the company’s cement and fertiliser business stands out,” he said.

He said with these offerings, the group would be better positioned to harness the opportunities in Asia generally and in Malaysia, specifically, as the elevator business could provide support to every development.

To be at the forefront of the industry, Hiesinger said the group invested quite heavily in innovation and research and development annually.

This has proven to be fruitful as the company has successfully developed the world’s first magnetic elevator.

“Today, elevator technology is limited by the fact that the cabins are moved up and down by ropes, and you would have a maximum of two cabins in one shaft.

“By placing linear motors in elevator cabins, they can move vertically or horizontally, and we can have 10 or 20 cabins in one shaft.

“For building that is higher than 300 metres, this is a very easy way to extend the capacity. This is an attractive solution.

“We want a state-of-the-art solution that is sustainable, because this area is where our customers are seeking solutions,” Hiesinger added. — Bernama