Company News, 2003-08-01, 02:00 AM
ThyssenKrupp Automotive further expands core business
Acquisitions give automotive supplier new markets, customers and technologies
ThyssenKrupp Automotive is continuing its growth course as one of the world`s major automotive suppliers. With the acquisition of French company Sofedit S.A., Saint-Quentin-en-Yvelines, and the planned acquisition of Mercedes-Benz Lenkungen GmbH, Düsseldorf, (MB Lenk), ThyssenKrupp Automotive is opening up new markets, new customers and further innovative technology areas for its core businesses. The two acquisitions will increase ThyssenKrupp Automotive`s sales by around 900 million euros p.a. and its workforce by around 5,600. In fiscal 2001/02 the company had sales of 6.3 billion euros and 38,500 employees. The aim is to increase sales to 10 billion euros through further strategic acquisitions and organic growth.
ThyssenKrupp Automotive has set itself ambitious strategic goals to secure its viability and expand its international market position. In implementing them, the company has to date completed acquisitions with aggregate sales of 223 million euros and divestitures with sales of 460 million euros. Key points of the strategy are:
- Strategic development of products and technologies through a twin focus on systems and component/module business in the core business areas Body, Chassis and Powertrain.
- Concentration of capital spending on components/systems delivering disproportionate earnings contributions.
- Expansion of market presence in Asia, particularly China and Japan including transplants in the USA and Europe.
- Portfolio streamlining to further focus on core business and contribute to the financing of investments.
ThyssenKrupp Automotive ranks among the world`s major automotive suppliers. As vehicles and systems become ever more complex, the expertise of a highly skilled systems supplier, development partner and materials specialist like ThyssenKrupp Automotive is more in demand than ever. With over 120 production sites in 17 countries, the company produces tailored components, modules and systems for body, chassis and powertrain applications in all the key markets. ThyssenKrupp Automotive is world market leader in body parts, engine components such as crankshafts and assembled camshafts, steering columns and steering systems. In air spring and suspension systems, axles and complete vehicles, ThyssenKrupp Automotive is a key player.
Further Information: http://www.thyssenkrupp.com/eng/presse/rede-schulz-08-03.html
ThyssenKrupp Automotive AG
Phone: +49 2 34 9 19 60 12
Fax +49 2 34 9 19 60 15