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Company News, 2006-05-30, 03:01 PM

ThyssenKrupp Services adds finishing touch to portfolio optimization program

As part of its efforts to focus on core businesses, Düsseldorf-based ThyssenKrupp Services AG, the Services segment of the ThyssenKrupp Group, has retroactively as of May 18, 2006, sold the Cologne-based Hommel Group to the Bochum-based Wollschläger Group. The parties have agreed not to disclose the transfer price.

With a workforce of over 600, twelve branches and three sales offices in Germany, the Wollschläger Group is certainly a best owner. It has firm partners in Germany, Netherlands, Belgium, Sweden, France, Great Britain, Ireland, Spain, Portugal, and Austria. Founded in 1937, Wollschläger is nowadays a foremost German trader of precision tools, machinery, welding equipment, safety-at-work gear and clothing and other operating and production equipment.

In fact, this is a product portfolio into which the Hommel Group as a specialist in metal-cutting machines and production-related services integrates seamlessly. The Group markets an OEM-independent range of CNC machines tools in Germany and Austria while furnishing extensive pre- and after-sales services for new and used machine tools. Hommel's workforce of around 240 generated sales of some EUR100 million in fiscal 2004/05.

For a period of at least two years, the Hommel Group will continue to operate as an enterprise in its own right parallel to the Wollschläger Group. All the existing collective labor agreements will remain in force.

Accelerated growth in C&E Europe, the USA, South America, and Asia

In fiscal 2004/2005, ThyssenKrupp Services' workforce of 34,835 generated sales of EUR12.7 billion. This latest divestment on the part of this segment finalizes the portfolio optimization efforts first launched in 2003. The focus is now on innovative materials and industrial services as well as global raw materials supplies.

With a view to increasing its medium-term results, ThyssenKrupp Services has also launched an aggressive growth program. Its core businesses have been substantially strengthened by extensions to existing and the acquisition of new operations in C&E Europe, the USA, South America, and Asia. Further steps will be taken shortly - aimed in particular at expanding market leadership in C&E Europe and moving deeper into the Asia market. One future focal point will be to secure raw material sources throughout the world. In all, ThyssenKrupp Services has earmarked for this growth program an expenditure budget topped up to one billion euros.

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