Company News Feb 15, 2006 11:01 AM
ThyssenKrupp Services expanding in Brazil
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.