Capital market-relevant press releases, 2013-04-18, 01:00 PM
ThyssenKrupp sets milestone in Nanjing
As part of its strategic development program ThyssenKrupp is focusing firmly on the markets of the future. With orders and projects worth more than five billion dollars, China is the company’s most important market in Asia. ThyssenKrupp is now opening a new truck crankshaft factory in the Chinese metropolis of Nanjing. The integrated technology group is already a market leader in Europe, the NAFTA region and South America. The factory in China, built at a cost of roughly 190 million USD, will close a gap in this important market. ThyssenKrupp Engine Components Co. Ltd. will employ approx. 650 people and produce up to 345,000 crankshafts a year.
Dr. Heinrich Hiesinger, CEO of ThyssenKrupp AG, underlines the importance of the investment for the strategic development of the Group: “We are focusing firmly on the markets of the future. China is an attractive market for our high-tech products and services. ThyssenKrupp has a longstanding partnership with China’s auto and engine manufacturers. With our engineering expertise we are helping the Chinese auto industry meet demand for ‘more’ mobility through the use of ‘better’ technology in the vehicle. This applies particularly to meeting increasingly stringent environmental standards.”
Nanjing is the ideal location for the production of truck crankshafts. The Yangtze region is home to the key electrical, petrochemical, iron and steel, energy, auto and engine industries. International automotive manufacturers and suppliers such as Volkswagen, Fiat, Iveco and Bosch have production sites here. In addition, numerous Chinese and international engine manufacturers have located in the east of China. With its new site in Nanjing, ThyssenKrupp will be in an even better position to develop and manufacture attractive solutions and products for its customers.
China is ThyssenKrupp’s most important base in Asia. The Group employs over 13,000 people in around 50 subsidiaries in the provinces Guangdong, Hubei, Jiangsu, Jilin, Liaoning, Shaanxi, Shandong and Sichuan as well as in Beijing, Chongqing, Hong Kong, Shanghai and Tianjin. The Group’s sales to customers in China came to around 2.3 billion USD in fiscal year 2011/2012. Its operations in the country are a reflection of its global footprint, extending from elevators, escalators and passenger boarding bridges to steering columns, camshafts and slewing bearings.