Company News, Capital market-relevant press releases, 2005-07-08, 12:47 PM
ThyssenKrupp Automotive streamlines springs business
ThyssenKrupp Automotive is to sell its European truck springs business to Styria Federn GmbH, Judenburg/Austria, part of the Frauenthal group. The sale comprises two plants, one in Portugal (Azambuja), one in Romania (Sibiu), with some 560 employees generating annual sales of around 45 million euros. The main products are leaf springs (parabolic and trapezoidal springs) for use in trucks.
The Styria group likewise specializes in truck springs. Alongside leaf springs, the main products are parabolic air links and stabilizer bars for heavy commercial vehicles. The group's 830 employees generate sales of around 125 million euros at six locations in Europe. The acquisition of the two production plants will strengthen the Styria group's position in the market for truck springs.
ThyssenKrupp Automotive is streamlining its springs business, which will in future be combined with the ThyssenKrupp Bilstein group. By pooling its spring/shock absorber capabilities in this way, ThyssenKrupp Automotive aims to strengthen and expand its market and technology positions in the passenger car sector.
ThyssenKrupp Automotive ranks among the world?s major automotive suppliers, with more than 43,000 employees at around 130 production sites in 17 countries manufacturing tailor-made components, modules and systems for the body, chassis and powertrain areas in all key markets. In fiscal 2003/2004 the company achieved sales of around 7.3 billion euros.