Company News, 2008-02-01, 11:01 AM
Modernized production lines increase competitiveness of ThyssenKrupp VDM
ThyssenKrupp VDM GmbH is working intensively to cement and strengthen its position as one of the world’s leading suppliers of high-performance nickel alloys. To achieve this goal, various measures with investments of more than 70 million euros have been launched as part of a forward strategy. They include the relocation of wire production from Bärenstein to Werdohl, where the company’s headquarters is based. A state-of-the-art production line for nickel alloy and high-alloy special stainless steel wire has been created which officially began operation today. “The move took place while production continued, allowing us to guarantee supplies to our worldwide customers at all times,” said Dr. Jürgen Olbrich, Chairman of the Management Board of ThyssenKrupp VDM, at the opening: “With the new and extensively modernized wire production line ThyssenKrupp VDM is ideally equipped for the future”.
Competitive wire production was no longer possible at the previous site in Bärenstein. Increased demands on equipment, logistics and production efficiency made it necessary to move to the company’s main base. Rolled, heavy, fine and flat wire as well as heating elements and welding wire are now produced at the Werdohl plant. Approximately 550 tons of wire per month will be produced in an 11,000 square meter building. The investment has cost around twelve million euros. The roughly 160 employees in Bärenstein have found new jobs within ThyssenKrupp VDM. “This step will significantly improve the competitiveness of ThyssenKrupp VDM. Where possible we follow the principle that restructuring goes before job losses,” said Dr. Michael Rademacher, Vice Chairman of ThyssenKrupp Stainless AG. “This is also a signal for Germany: Companies like ThyssenKrupp are investing here, companies can produce at competitive cost in this country,” he continued.
The new wire plant in Werdohl is part of a ThyssenKrupp VDM investment program totaling more than 70 million euros. The program also includes the expansion of remelting capacities and the building of a forging line at the company’s Unna site.