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Company News, 2000-04-14, 02:00 AM

Statement on Atecs Mannesmann

On April 14, 2000 ThyssenKrupp submitted a detailed offer to purchase the activities of Atecs Mannesmann. This offer made provision for Atecs Mannesmann with all five activities to be retained and developed as an independent entity. As part of the offer ThyssenKrupp also proposed a solution for the tubes business of Mannesmann AG.

ThyssenKrupp´s offer presented a comprehensive, convincing industrial plan embracing both the automotive and the engineering activities of Atecs Mannesmann.

ThyssenKrupp will continue to systematically implement its strategic realignment resolved in December 1999. This program centers on the IPO of the Steel activities in September/October 2000 and a further focusing on core businesses, in particular the strengthening of the automotive activities and the high-quality mechanical engineering business. Services, systems business and an e-commerce offensive will play an important role.

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