KLEEMANN GROUP proceeded in establishing a new subsidiary company in China, named KUNSHAN KLEEMANN LIFTS TRADING CO, LTD. In conjunction with the existing subsidiary KLEEMANN LIFTS (CHINA) CO LTD the new organizational structure will improve the Group's efficiency in China.

The initial share capital of the new subsidiary is 100 thous. USD, with sole shareholder (100%) being the subsidiary HONG KONG ELEVATOR SYSTEMS LIMITED that is owned 100% by KLEEMANN GROUP. The purpose of the company is trading of elevator systems.