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Company News, 2007-08-24, 11:00 AM

ThyssenKrupp Services expands materials services in Russia

Düsseldorf, Germany-based ThyssenKrupp Services AG, the services arm of the ThyssenKrupp Group, is investing around 18 million euros in the construction of two new warehouse, logistics and processing centers in Russia to be used by ThyssenKrupp Materials (Russia), a Moscow-based materials services company founded in 2004.

With sales of around 120 million euros and some 130 employees, the company supplies rolled steel, tubes, stainless steels, nonferrous metals and plastics to manufacturing industry, the construction sector and the skilled trades.

As part of the gradual expansion of its sales and warehousing organization, ThyssenKrupp Materials (Russia) has purchased five hectares of land in St. Petersburg and 2.5 hectares in Nizhny Novgorod. The center in Nizhny Novgorod is expected to open in September 2008, followed a little later – probably in May 2009 – by the St. Petersburg facility. Both sites will feature state-of-the-art equipment such as flame cutting, band saw, laser cutting and packaging lines.

Joachim Limberg, Vice Chairman of the Executive Board of ThyssenKrupp Services, is optimistic about the future: “The Eastern European economy is performing very well, and Russia in particular is becoming increasingly attractive for our business. In the future we intend to establish high-quality materials more strongly in Eastern Europe and further reduce the share of commodities. We will also continue to improve the quality of our products and services and expand our customer portfolio.”

In addition to Russia, ThyssenKrupp Services has Eastern European operations in Bulgaria, Poland, Romania, the Czech Republic, Ukraine and Hungary. These companies employ over 1,000 people and last fiscal year generated combined sales of around 700 million euros. In the medium term, ThyssenKrupp Services aims to establish activities in all the countries of Eastern Europe.

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