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Company News, 2006-02-15, 11:01 AM

ThyssenKrupp Services expanding in Brazil

Düsseldorf-based ThyssenKrupp Services AG is branching out further into Brazil where, through its ThyssenKrupp Serviços do Brasil Ltda. subsidiary in São Paulo, it has acquired a 51-percent stake in the industrial services business of RIP Serviços Industriais S.A. and RIP Comércio S.A., Indaiatuba, as of January 31, 2006.

Founded in 1986, RIP provides fire-proof coating, insulation, corrosion-proofing and scaffolding services chiefly for the (petro)chemical, aluminum, paper, energy, and mining industries. The company is market leader in its sector and represented at all the key industrial locations in Brazil. In fiscal 2005, RIP's some 3,500 employees generated sales in the region of EUR80 million.
"The acquisition supplements our existing businesses in Europe and North America where in some cases we command market leadership status. The South American market, especially Brazil, is set to grow. By sharing the know-how among our companies and across continents we identify very good opportunities to forge ahead into furthers sectors with the services package provided by RIP," comments ThyssenKrupp Services Executive Board member Stefan Klebert.

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