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Company News, 2008-07-14, 01:04 PM

The Boeing Company again opting for ThyssenKrupp for a 10-year service contract

ThyssenKrupp Services, the trading and services arm of the ThyssenKrupp Group, announces another step forward in the expansion of its services to the aerospace industry. The US subsidiary, TMX Aerospace, signed a new 10-year contract with The Boeing Company on June 20, 2008, covering integrated supply chain management services. The contract is a follow-up to the successful service contract first signed in 1998; it covers global purchase pooling, deadline tracking, inventory management, the processing of all aluminum and titanium products, the optimization of in-plant materials flow and the coordination of 700 production plants and subcontractors of Boeing Commercial Airplanes.

Joachim Limberg, Deputy Chairman of the Executive Board of ThyssenKrupp Services and in charge of the Materials Services business says: "The extension of the Boeing contract is a clear reflection of the confidence in our worldwide materials, logistics, and IT capabilities and endorses our strategy of pushing ahead with our business and services in the aerospace industry."

Following the acquisition of the aerospace operations from Alcoa at the end of 2006 and the takeover of the Apollo Metals Group at the end of 2007, ThyssenKrupp Services has bundled its entire aerospace companies and operations in the newly formed ThyssenKrupp Aerospace. With sales of around $700 million and 30 locations in 13 countries, this group is the world's biggest provider of materials services for the aerospace industry.

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