Company News, 2007-05-16, 09:02 AM
Umformtechnik transferred to ThyssenKrupp Steel
The ThyssenKrupp Umformtechnik group, part of the former ThyssenKrupp Automotive AG until the end of last fiscal year 2005/2006, has been transferred to the ThyssenKrupp Steel segment effective October 1, 2006. The Umformtechnik group has 8,200 employees at 23 locations worldwide and generates sales of around €1.4 billion. The group includes the German Umformtechnik, the UK companies Tallent and Body Stampings and the French company Sofedit. The Steel segment will be further strengthened by the ability to meet growing customer demand for value-adding services.
“There is a trend among leading steel producers towards intensifying their downstream operations,” explains Dr. Ulrich Jaroni, Executive Board Member of ThyssenKrupp Steel AG responsible for the new Metal Forming business unit. “The tie-up will secure the long-term competitiveness of Umformtechnik and offer major potential for expanding its unique selling points. Extending the value chain will also create synergies as a result of our complementary materials capabilities.” Umformtechnik and Steel have been working together for many years, including in the Group-owned Lightweight Design and Innovation Center LIZA, which is engaged in the development of light steel auto bodies. These innovation efforts will now be combined and focused.
The Umformtechnik group holds leading market positions as a manufacturer of body and chassis components for the auto industry, with each of the two operating groups accounting for roughly half of sales. Alongside its core operations in Europe the Umformtechnik group has already established successful overseas activities in Brazil, China and India, which will be further expanded to exploit growth opportunities in these emerging markets.
This press release is also available on the internet at: www.thyssenkrupp-steel.de