Two global enterprises, Doppelmayr and Garaventa, successfully finalized merger negotiations to combine their respective assets in a joint corporation on August 8, 2001. This merger will build a powerful organization whose primary goal is to continue to develop their lead in quality and technology, to continue to improve their international competitive advantages, and to develop new applications and markets for ropeway technologies. The majority shareholder of the new group, which will be headquartered in Goldau, Switzerland, is Doppelmayr Holding AG, of Wolfurt, Austria.