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Capital market-relevant press releases, 2005-08-22, 02:00 PM

Best owner found for Turbinenkomponenten

As part of its proactive portfolio enhancement program, ThyssenKrupp Technologies has found a best owner for its Remscheid-based turbine component business ThyssenKrupp Turbinenkomponenten.

The buyer is the Nürnberg-based Leistritz Group founded in 1905 and a manufacturer of specialty plant and machinery. At its chief location in Nürnberg, Leistritz builds turbine and compressor blades, screw pumps, and systems such as extruders and extrusion plants, while at the Pleystein/Upper Palatinate and Fürth-Stadeln locations the Group manufactures for the tube, metal-forming, machine-tool and tooling markets.

The Leistritz Group has a worldwide workforce of 1,600 and annual sales of around Euro 150 million. It has representatives and sales offices in all European and most non-European countries.

ThyssenKrupp Turbinenkomponenten, based in Remscheid, Germany, and North Carolina, USA (Advanced Turbine Components), is a manufacturer of components for the aviation and power generation industries. Over the last 30 years, the company has become one of the leading suppliers of blades and disks for aero engines, as well as the worldwide market leader in precision-forged and ready-to-install blades for gas and steam turbines. The workforce numbers 514, annual sales amount to Euro 63 million.

The takeover is scheduled for closing in October of this year.

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