Capital market-relevant press releases, 2004-12-09, 01:00 AM
ThyssenKrupp Fahrzeugguss sold to Electra group
Further step in portfolio optimization
As part of the active portfolio optimization program of ThyssenKrupp Automotive, the ThyssenKrupp Fahrzeugguss group is being sold to the european investor group Electra Partners Europe Limited. ThyssenKrupp Fahrzeugguss is a development partner and producer of light metal cast products (aluminium, magnesium) for the international auto industry. The acquisition is subject to the necessary supervisory board resolutions and the approval of the EU Commission.
Electra Partners Europe is one of Europe`s leading private equity investors and has more than 25 years experience of private equity transactions. It has over 2 billion euros of funds under management.
The ThyssenKrupp Fahrzeugguss group generated sales of almost 300 million euros with around 1,700 employees in fiscal 2003/04 and has production sites in Hildesheim, Radevormwald, Wuppertal and Bendorf in Germany. In addition, the group also includes ThyssenKrupp Rautenbach Castings GmbH, Wernigerode, and the Czech-based ThyssenKrupp Aluminium-Technik s.r.o., Hrádek nad Nisou.
ThyssenKrupp Automotive ranks among the world`s major automotive suppliers. With around 130 production locations in 17 countries, over 43,000 employees produce customized components, modules and systems for chassis, body and powertrain applications on all the major markets. The company achieved sales of around 7.3 billion euros in fiscal 2003/2004.
Since the merger of Thyssen and Krupp in 1999, ThyssenKrupp companies with sales of 5.1 billion euros have been divested and businesses with sales of 5.6 billion euros have been acquired.
ThyssenKrupp Automotive AG
Executive Affairs/ Public Relations
Telephon: +49 234 9 19-6012
Fax: +49 234 9 19-6014