FRANKFURT (Reuters) - Thyssenkrupp is not in talks with Finland’s Kone about its elevator business, Thyssenkrupp’s Chief Financial Officer Guido Kerkhoff told journalists on Wednesday after the group published first-quarter results.
Kone, which competes with Thyssenkrupp’s Elevator Technology division, last month said it was looking for acquisitions to further consolidate the elevator sector. Other rivals include U.S.-based Otis and Switzerland’s Schindler.
Elevator Technology is Thyssenkrupp’s most profitable unit, and some investors have called for a spin-off of the business, which had first-quarter adjusted operating profit of 220 million euros ($272 million), accounting for about half of the group’s total.
Reporting by Christoph Steitz; Editing by Maria Sheahan