should bring benefits to Bermuda companies requiring elevator systems, a local executive has said.

"Dover Elevator Systems is now catapulted into the number three position worldwide in terms of the elevator business,'' said Anthony Smith, president of Bermuda Elevator Systems Ltd., Dover's Bermuda distributor. "The acquisition will make us part of a larger organisation, with respect to research and development.

"Thyssen also has escalators, and although the escalator business is not large in Bermuda, we will be able to source our own escalators. It generally will open the door to further technology for our Bermuda customers.'' Bermuda Elevator became only the second elevator company in Bermuda in 1980, in competition with long-time Bermuda supplier, Otis Elevator.

Mr. Smith estimated that his company had about 40 percent of the elevator business, although Bermuda Elevator is the fastest growing.

"We started from zero in 1980,'' he said. "There are just two players and we believe that we had about 70 percent of the new elevator market, until very recently.''