1978
Internationalization and further vertical diversification.

Already in the early 1970s August Thyssen-Hütte AG considers ideas to strengthen the group's international focus. Plans to produce steel at different places around the world and process it in Duisburg are abandoned after the 1973 oil crisis. In an effort to expand the business base and reduce the dependency on steel The Budd Company (USA) is acquired in 1978. At the time of the acquisition this US conglomerate is mainly engaged in automotive components and numerous capital goods.

The further globalization of the group is supported in the 1990s by a concentration on selected fields of business holding good market and earnings potential. Worthy of mention in this connection are the acquisitions of the machine tool manufacturer Giddings & Lewis Inc. (USA) and Copper and Brass Sales Inc. (USA), a leading trading and service center for nonferrous metals in North America, in 1997 and of Dover Elevators (USA), market leader in hydraulic elevators in North America, in 1998.

Overview