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Company News, 2015-06-11, 03:01 PM

ThyssenKrupp and Premium AEROTEC extend cooperation

ThyssenKrupp Aerospace GmbH, Heusenstamm, and Premium AEROTEC GmbH, Augsburg, have further extended cooperation. Besides the tasks hitherto handled for the Varel location (preproduction, finish machining, tagging, inhouse logistics) the aerospace supply chain management experts of the Business Area Materials Services are gradually taking over for the next ten years, alongside logistics supplies, preproduction functions, i.e. sawing and milling of the aluminum panels, for the location of Premium AEROTEC in Augsburg. "The extension of the contract with AEROTEC is a great success for our service business with aerospace companies and shows that we are an important partner when it comes to longstanding cooperation within the industry," says Joachim Limberg,, CEO of Materials Services, a Business Area of the ThyssenKrupp Group.

Premium AEROTEC is one of the world’s leaders in the development and manufacture of structures for commercial and military aircraft. At its facilities in Augsburg, Bremen, Nordenham, Varel and Braşov (Romania), this foremost European aircraft-industry supplier manufactures state-of-the-art aircraft structures for the entire Airbus Family using aluminum, titanium and carbon fiber composites (CFC). Premium AEROTEC is also making a key contribution to the development and manufacture of the A350 XWB. Furthermore, the company supplies components for the Boeing 787 Dreamliner, the Eurofighter and the A400M.

A key criterion for the award on the part of Premium AEROTEC is the longstanding expertise of ThyssenKrupp Aerospace as an integrated materials services provider. Since 2010, the Company has been a firmly established logistics and materials services provider to Premium AEROTEC at the Varel location. "We're convinced that our know-how will help further optimize Premium AEROTEC's cost structures," Jürgen Funke, Chief Executive Officer of ThyssenKrupp Aerospace, is happy to report regarding the expansion of business relations with Premium AEROTEC.

"The cooperation with ThyssenKrupp we have now opted for, is a major module in the strategic rebuilding of our company," says Dr. Lars Kästle, CFO and member of the management of Premium AEROTEC. "We're concentrating on our core business and making use of the capabilities and capacities of our outside suppliers wherever such cost savings and optimized inventories yield economic advantages."

In order to address these rising demands, ThyssenKrupp Aerospace is expanding its shop capacities by around 3,000 sq. m. and its warehouse capacities by some 10,000 sq. m. Other expenditures are going into machinery and equipment. "With the aid of these outlays we are raising the automation level of our machinery and ensuring another improvement in our efficiency. Moreover, we also have the advantage of much higher volumes," explains Funke.

In future, around 21,000 tonnes of materials will be handled and processed annually at Varel. In the wake of the contract extension, ThyssenKrupp Aerospace is also taking over the inventories of Premium AEROTEC.

About ThyssenKrupp

ThyssenKrupp, a diversified industrial group headquartered in Essen, Germany, has around 150,000 employees in over 80 countries whose ideas and innovations are helping to develop solutions for sustainable progress. In fiscal year 2013/2014, ThyssenKrupp generated sales of over €41 billion.

ThyssenKrupp Aerospace provides the world's leading aerospace companies with materials and supply chain management services. The multinational group operates from numerous locations in the Americas, Europe, North Africa and Asia Pacific. At home in all the world's aerospace manufacturing regions, the company's 1,600 employees aggregate demand across a single supply chain on behalf of the world's leading OEMs. At the same time, the ThyssenKrupp Aerospace network supplies local services to meet the needs of aerospace subcontractors throughout the world.

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