Products and solutions Mar 22, 2001 1:00 AM
ThyssenKrupp Materials to acquire Energostal S. A. in Poland
ThyssenKrupp Werkstoffe Gmbh, a company of ThyssenKrupp Materials AG (TKM), Düsseldorf, Germany, and the shareholders of Energostal S. A., Torun, Poland, have agreed to sign a joint venture agreement. Subject to the approval of the Polish authorities, TKM will acquire 80% of Energostal`s shares.
Energostal, established in 1994, is an up-and-coming rolled steel and tube warehousing and trading company with 90 employees and annual sales of DM90 million (Zloty180 million). Both sides plan to accelerate the company`s regional expansion in Poland and broaden its range of products. At present Energostal has sites north-west of Warsaw and near the industrial center of Katowice.
TKM will contribute its extensive know-how in warehousing and services as Germany`s leading materials trading and service company. Energostal`s current range will be expanded on the one-stop-shopping principle.
Under TKM`s expansion strategy for Eastern Europe the local companies will continue to hold management responsibility and utilize previously successful mill links.
ThyssenKrupp Materials AG contains the materials services of the ThyssenKrupp Group. It is one of the world`s biggest full-line suppliers and processors of carbon steel, tubes, stainless and tool steel, nonferrous metals and plastics. With its network of service and logistics centers in Europe and North America Materials operates a highly effective distribution system. In fiscal year 99/00 it employed around 13,600 people, generating sales of euro10 billion and pre-tax profits of euro153 million.
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