Company News, 2013-11-05, 10:27 AM
ThyssenKrupp to strengthen plant engineering and construction activities through planned joint venture for electrolysis business
As part of its Strategic Way Forward, ThyssenKrupp is strengthening its plant engineering and construction activities and now plans to expand its electrolysis plant business through a joint venture. Plant engineering and construction specialist ThyssenKrupp Industrial Solutions has reached an agreement with De Nora, an electrochemical technologies supplier based in Milan, to establish a joint venture. The companies intend to combine their engineering, procurement and construction activities for electrolysis plants under the name ThyssenKrupp Uhde Chlorine Engineers. This will enable both partners to expand their technological platforms and move closer to customers through an increased global presence. The planned joint venture will achieve annual sales in the mid three-digit million euro range. The agreement is subject to approval by the supervisory bodies and the relevant antitrust authorities.
Dr. Heinrich Hiesinger, CEO of ThyssenKrupp AG: “Plant engineering and construction is a key growth field for our Group. We are constantly working on new solutions that will enable our customers to meet the growing global demand in areas such as energy, raw materials and food in better and more efficient ways. Electrolysis processes can make an important contribution to this, for example by producing hydrogen to open up improved opportunities for energy storage, one of the major challenges of the energy transition.”
Dr. Hans Christoph Atzpodien, CEO of ThyssenKrupp Industrial Solutions AG: “In taking this step, we are broadening our technological development capabilities and strengthening our service business in the electrolysis sector. Both the technologies and the geographical market coverage of the two companies are largely complementary and are a perfect fit.”
Under an existing joint venture – UHDENORA – ThyssenKrupp Industrial Solutions and De Nora have already been cooperating for several years on licensing various electrolysis processes, such as chlor-alkali electrolysis for the production of chlorine, a key feedstock for around 60 percent of all products in the chemical industry. The new company ThyssenKrupp Uhde Chlorine Engineers will combine the electrolysis business of the two companies under the managerial control of ThyssenKrupp Industrial Solutions, the majority shareholder, and will be consolidated in the Group. The company will be headquartered in Dortmund and represented worldwide with locations in Okayama, Tokyo, Shanghai, Milan and Houston.