ThyssenKrupp to expand presence in China - Approval expected for establishment of a national holding company in Beijing

ThyssenKrupp aims to expand its presence in China. "We intend to develop our activities in China, we are looking into further projects and conducting intensive discussions with a number of Chinese partners," said Dr.-Ing. Ekkehard D. Schulz, Executive Board Chairman of ThyssenKrupp AG, in Beijing ahead of the establishment of the new national holding company ThyssenKrupp (China) Ltd. The approval of the authorities is expected shortly. The chief task of the new holding company is to coordinate the Group's wide-ranging activities in the People's Republic and provide advisory services for subsidiaries active in the country. In addition, it will establish and develop contacts between high-ranking representatives of the Group and decision-makers in government, administration and industry. The company is registered in Beijing.

"Owing to its growth perspectives, the Asia/Pacific region is becoming increasingly important for the Group," said Schulz. In the past fiscal year 2003/2004 ThyssenKrupp generated sales of some 3.5 billion euros in the region – 13.6 percent of the Group's total foreign sales of 25.8 billion euros. ThyssenKrupp's presence in the region is to be systematically expanded through targeted strategic acquisitions and joint ventures. China is the Group's most important location in Asia. The Group and its two predecessor enterprises Thyssen and Krupp have been active in China for over 140 years. Today ThyssenKrupp has a total of 30 companies in China, with 3,700 employees generating sales of around 1.1 billion euros.

Relations between the predecessors of ThyssenKrupp, the companies Thyssen and Krupp, and China go back to 1866 and are characterized by a mutual exchange of knowledge and experience.