Company News, 2005-12-20, 11:31 AM
Services offensive: ThyssenKrupp Services expanding in Canada and the USA
The Düsseldorf-based ThyssenKrupp Services AG is further expanding its business in Canada and the USA, having acquired through its materials service company ThyssenKrupp Materials NA Inc. (Detroit) the industrial services, warehousing and logistics activities of the Hearn Group based in the Canadian city of Windsor. The takeover is taking effect retroactively as of October 1, 2005. The seller was the Group's founder Donald Hearn, Senior. The parties involved have agreed not to disclose the purchase price.
"The divisions acquired from Hearn represent a further step in developing our US industrial services business," explains ThyssenKrupp Services Executive Board member Joachim Limberg. "The acquisition complements our successful activities relating to every aspect of purchasing and logistics through services close to production." In this regard, Hearn specializes particularly in such areas as pre-assembly, warehouse logistics, quality control/assurance, and finishing. "We have already established a strong services foothold in the aviation industry though our supply chain management solutions," Limberg continues, adding, "Together with Hearn we can now transfer our know-how to other sectors. We plan to increase our services share even further in future!"
In fiscal 2004/2005, Hearn generated sales in the divisions acquired by ThyssenKrupp Materials NA of some EUR22 million with a 200-strong workforce. ThyssenKrupp Materials NA's presence will thus be expanded by eleven sites?of which four are in Canada and seven in the USA. Customers come mainly from the automotive and metal-working industries.