Capital market-relevant press releases, 2004-10-27, 02:00 AM
ThyssenKrupp Automotive - global leader in crankshaft production
Joint venture with Sumitomo
ThyssenKrupp Automotive takes a 34 percent stake in Huizhou Sumikin Forging Co., Ltd., Huizhou/China, (HSFC). The other shareholders in this Chinese crankshaft manufacturer are the Japanese companies Sumitomo Metals Industries, Ltd., and Sumitomo Corporation.
Huizhou Sumikin Forging, located in Huizhou, Guangdong Province, will commence production of forged crankshafts for cars on a 6,000 t press line in November 2004. The company will employ around 100 people and make approx. 800,000 car crankshafts per year. The investment in HSFC will increase ThyssenKrupp Automotive`s presence in Asia and provide an opportunity to participate in the growth in Chinese, Korean, Japanese and European vehicle models.
The investment in HSFC will strengthen ThyssenKrupp Automotive`s leading position in the international crankshaft market. From production locations in Germany, France, Brazil and the USA, ThyssenKrupp Automotive turns out some twelve million crankshafts every year. The companies in its Crankshafts division can meet the full range of demand for crankshafts for cars, the commercial vehicle and engine industries and for motorcycles.
ThyssenKrupp Automotive ranks among the world`s major automotive suppliers, with more than 43,000 employees at around 130 production sites in 17 countries manufacturing tailor-made components, modules and systems for the body, chassis and powertrain areas in all key markets. In fiscal 2002/2003 the company achieved sales of around 6.3 billion euros.
Phone: +49 234 / 919 - 6012
Fax: +49 234 / 919 - 6014