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Thyssen Elevator Capital Coporation history
Thyssen Elevator Capital Coporation company history timeline
After he succeeds in making high-quality cast steel (crucible steel) in 1816, he begins production of tanner's tools, coining dies and unfinished rolls.
In 1817 the Imperial Mint in Düsseldorf confirms the quality of Krupp cast steel.
In 1818 Krupp supplies his first coining die to the Prussian mint head office in Berlin.
In 1830 Krupp begins to supply finish-machined rolls instead of his earlier unfinished rolls as these frequently crack due to incorrect machining by customers.
In addition, the purchase of the first steam engine in 1835 lowers production costs.
From 1856 hostels are built for unmarried workers.
The order from the Prussian military authorities in 1859 is a breakthrough in the development of the company's second major production segment.
In 1862 Krupp builds the first Bessemer steel plant on the European continent, paving the way for the mass production of rails and steel sheet.
In 1867 August Thyssen invests in a company being set up in Duisburg by the Walloon industrialist family Bicheroux - his youngest sister had married into the family.
In addition, in 1869 Krupp commissions the first open-hearth furnace in Germany.
In 1870 the company acquires its own hospital.
Together with his father as co-owner, on April 1, 1871 August Thyssen establishes the firm of Thyssen & Co. in Styrum near Mülheim an der Ruhr.
On October 2, 1871 the company produces its first hoop iron.
To transport the Spanish ore he establishes his own shipping company in Rotterdam in 1873.
Following the death of his father in 1887, Friedrich Alfred Krupp expands the enterprise into a horizontally diversified concern.
In 1889 he takes over as chairman of the board.
In 1895 August Thyssen takes the final step in setting up an integrated iron and steel mill when Gewerkschaft Deutscher Kaiser in Hamborn near Duisburg builds its own blast furnace plant.
To add to its manufacturing capacities, in 1896 Gewerkschaft Deutscher Kaiser decides to build a baling hoop rolling mill.
When Friedrich Alfred Krupp dies suddenly in 1902 at the early age of 48 his elder daughter Bertha Krupp inherits the company.
At the end of 1906 he is appointed vice chairman of the supervisory board of Fried.
In 1908 Krupp begins production of electrical steel.
1910 sees the establishment of N. V. Handels- en Transport Maatschappij Vulcaan, Rotterdam, an ocean shipping company aimed at making the Thyssen group independent of the international freight market.
The Thyssen AG steel mill in Hagendingen starts production in 1912.
In 1913 Thyssen turns its attention to Latin America, founding Deutsch-Überseeische Handelsgesellschaft (German Overseas Trading Company) in [Duisburg-]Hamborn with a branch in Buenos Aires.
A few weeks after August Thyssen's death (April 4, 1926) his son Fritz and his nephew Hans (for the Joseph Thyssen line) agree to transfer their Thyssen companies to Vereinigte Stahlwerke AG.
In 1926 Krupp brings sintered carbide onto the market under the name WIDIA (acronym for WIe DIAmant = like diamond). Its exceptional hardness and wear resistance represent a major breakthrough in tool engineering.
Helene and Amalie in Essen (acquired 1927) and Ver.
The idea of two cabs traveling in one shaft was patented back in 1930 but doesn’t become reality until more than seventy years later, heralding a new era in elevator technology.
On May 1, 1933 he joins the NSDAP with great hopes of organizing the party's economic policy along corporatist lines.
After 1933 the sharp rise in government demand for arms also determines the production focus of Krupp and Thyssen.
Since 1943 British and American air strikes on the Krupp and Thyssen plants increase massively.
In April 1948 the British dismantling office in Hamborn commissions the first German firms to undertake dismantling work.
Six months after the Petersberg Agreement, in May 1950, reconstruction work begins at the Thyssenhütte mill.
As part of a general amnesty, the convicts are released from prison in January 1951 by decision of the American High Commissioner for Germany, John McCloy.
The first blast furnace is blown in on May 7, 1951, and in the same year an open-hearth furnace restarts production.
The company broadens its product range in 1956 by combining with Niederrheinische Hütte AG, a producer of wire rod and bar with considerable wire processing interests.
Both drive forward the rebuilding of the Krupp Group, which in 1958 is for a short time once again the German company with the highest revenue.
The "Alfried Krupp von Bohlen und Halbach Foundation" commences work on January 1, 1968.
After 1970, the acquisition of several smaller elevator manufacturers in Germany and Western Europe, combined with the construction of an elevator factory in Neuhausen near Stuttgart, leads to major developments in elevators and escalators.
The acquisition of Rheinstahl AG in 1973 broadens the business base and at the same time reduces dependency on the cyclical steel sector.
Plans to produce steel at different places around the world and process it in Duisburg are abandoned after the 1973 oil crisis.
In 1973 a new large-scale production site is built in Neuhausen an der Fildern near Stuttgart.
During a period of expansion in 1978 Thyssen AG entered the North American automotive industry with the acquisition of Budd’s automotive operations, which became the automotive division of Thyssen and operated in North America as Budd Thyssen, later ThyssenKrupp Budd Co.
After closure of the operation in 1985, the blast furnace plant is converted into a landscape park under the IBA Emscherpark project and private initiatives.
The joint venture Hüttenwerke Krupp Mannesmann GmbH Duisburg, established in 1990 by Krupp Stahl AG and Mannesmannröhren-Werke AG - in which each hold equal shares - supplies both parent companies with semi-finished products for the manufacture of flat steel products and tubes.
Krupp GmbH acquires shares in Hoesch AG from 1991.
The steel activities of Krupp Stahl and Hoesch Stahl are combined in Krupp Hoesch Stahl effective January 1, 1993.
ThyssenKrupp Elevator was founded in the year 1999.
Until 2001 ThyssenKrupp AG contributes around DM152.3 million to the compensation fund.
It links Pudong airport with Shanghai and begins permanent operation in 2004.
In October 2006 ThyssenKrupp sold ThyssenKrupp Budd’s North American body and chassis operations to Martinrea International Inc.
The world steel industry peaked in 2007. just as the company spent $12 billion to build the two most modern mills in the world, in Alabama and Brazil.
Effective October 1, 2009 ThyssenKrupp implements a new organizational structure to better respond to business challenges.
The company announced that the investment was increased to $4.6 billion in 2010.
On November 20, 2011, the 200th anniversary of Krupp is marked by a ceremony at Villa Hügel.
The company projects to be fully operational in late 2011 and employ approximately 1,800 people at that time.
The 2012 Ideas Park is officially opened by North Rhine-Westphalian State Premier Hannelore Kraft, Mayor of Essen Reinhard Paß and Doctor Heinrich Hiesinger, CEO of thyssenkrupp AG.
The company projects it will employ approximately 900 people when fully operational in late 2012.
On July 30, 2013 Berthold Beitz, one of the most influential industrialists in post-war Germany, dies aged 99.
Finally in 2013, ThyssenKrupp offered the remaining portion of the plant for sale at under $4 billion.
As of the year 2014, the company was in talks with Saab in order to sell off its Swedish maritime defence unit.
The company had also tied up with Tata Steels in the year 2018, in order to establish a long terms venture in the steel industry.
The current revenue of the company, as of the year 2018, is more than 34.7 billion Euros.
With the successful closing on July 31, 2020, another important milestone in the initiated transformation of the company into a powerful “Group of Companies” is accomplished.
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