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Company News, 2003-07-07, 02:00 AM

ThyssenKrupp Materials strengthens presence in Czech Republic

ThyssenKrupp Materials AG, Düsseldorf, has acquired an 80% stake in the carbon and stainless steel distributor Ferrosta spol. s.r.o., Prague. Now trading under the name ThyssenKrupp Ferrosta, the company`s activities will be significantly extended in the coming years, and the workforce will grow gradually from 40 to 50. The Czech merger control authorities recently approved the acquisition.

The Ferrosta takeover is part of ThyssenKrupp Materials` systematic drive to expand its activities in Eastern Europe. Some time ago, companies were acquired in Hungary and Poland; using new materials and service concepts, they each now have several hundred employees and have established themselves successfully on their respective markets. The aim is now to repeat this success in the Czech Republic.

ThyssenKrupp Materials
Stefan Ettwig
Tel.: +49 211 9675091

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