Company News, 2005-03-21, 03:02 PM
Best owner found for Elastomertechnik
As part of ThyssenKrupp Technologies` strategy of active portfolio optimization, a best owner has been found for Hamburg-based ThyssenKrupp Elastomertechnik.
The buyer is the old-established company L. Possehl & Co mbH. Based in Lübeck, the Possehl group has activities in three business areas - trading, production and services.
The ThyssenKrupp Elastomertechnik group is world market leader in specialized tire-building machinery. Its range also includes machines for the manufacture of industrial rubber products and edible oils. The ThyssenKrupp Elastomertechnik group has sites in Hamburg, Freudenberg (both Germany), Topeka/USA and Belisce/Croatia, employing some 1,000 people worldwide, and generated sales in the past 2003/04 fiscal year of around 145 million euros.
The acquisition will take place with retroactive effect at October 1, 2004 subject to approval by the Supervisory Board of ThyssenKrupp AG and the relevant regulatory authorities.
ThyssenKrupp Technologies is an international manufacturer of high-tech plant and machinery. On the basis of world-leading market positions and innovative system and engineering capabilities, it supplies systems, facilities, specialized machinery and components together with associated services.
Since the merger of Thyssen and Krupp in 1999, the Group has sold companies with sales of 5.4 billion euros and acquired businesses with sales of 7.0 billion euros.