Thyssenkrupp Elevator opens Shanghai HQ

Thyssenkrupp Elevator, a subsidiary of the German conglomerate thyssenkrupp AG, has opened its China headquarters in Shanghai, marking its latest investment in the country.

The 15,000-square-meter, 40-meter-high block was built in the Songjiang district at a cost of 120 million yuan ($18.5 million). It showcases the company's latest elevators, escalators, moving walkways and TWIN elevators.

"China is by far our most important market in Asia," said Heinrich Hiesinger, chairman of the executive board of thyssenkrupp AG, after Wednesday's opening.