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Company News, 2006-08-17, 11:00 AM

ThyssenKrupp Stainless to invest 72 million euros in Unna plant

Stainless holding company ThyssenKrupp Stainless AG (Duisburg) is to invest around 72 million euros in the Unna site of its subsidiary ThyssenKrupp VDM to build a forging line and expand remelting capacities. Completion is scheduled for 2008. "These measures will allow us to attract additional customers and thus sustainably strengthen our leading position on the world market for superalloys," said Jürgen Fechter, Chairman of the Executive Board of ThyssenKrupp Stainless AG.

The investments which have now been resolved form part of a package of measures at ThyssenKrupp VDM aimed at achieving growth in high-profit segments of the nickel alloy market, in particular in the area of so-called superalloys. These are high-performance materials with special corrosion and heat resistance properties which are mainly used in the growing aerospace, energy production, oil and gas markets. The new forging facility will allow ThyssenKrupp VDM to expand its range of products in particular for the aerospace industry. In addition to the certifications already received, the plant will in the future be able to acquire further certifications, e.g. for rotating turbine components in propulsion units.

"The planned investments are part of the Value Driven Mobilisation forward strategy launched last year which has already brought about numerous optimizations in the areas of sales, production and quality," said Dr. Jürgen Olbrich, Chairman of the Management Board of ThyssenKrupp VDM GmbH.

This package of measures also includes the relocation of wire production operations from the Bärenstein plant to the company's head office location in Werdohl. The additional staff requirements in Unna can be largely covered by employees from Bärenstein.

ThyssenKrupp VDM GmbH (Werdohl), a company of ThyssenKrupp Stainless AG, is one of the world's leading suppliers of high-performance materials based on nickel alloys. In many applications (e.g. the energy, environment, aerospace, electronics and automotive sectors) they are instrumental in handling processes performed in corrosive, high-temperature conditions. Its range includes sheet, strip, wire and rod of nickel alloys, special stainless steels and soft magnetic alloys. In fiscal year 2004/05 the company had 1,760 employees (270 in Unna) and generated sales of around 800 million euros.

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