Company News May 11, 2004 2:00 AM
ThyssenKrupp Services Launches Joint Venture for Materials in Russia - Warehousing and service business starts in Moscow and St. Petersburg on June 1, 2004
The ThyssenKrupp Services AG, Düsseldorf, has founded a joint venture in the materials warehousing and service business in Russia; the company is called ThyssenKrupp Materials. ThyssenKrupp Services holds an 80-percent interest, 20 percent belongs to a Russian investor group in steel trading. The new company will start with about 40 employees and take up operations in Moscow and St. Petersburg on June 1, 2004.
Joachim Limberg, the ThyssenKrupp Services board member responsible for these activities, explains: "Eastern Europe, which has achieved much better growth rates than Western Europe for some time now, is a most interesting market for us. We will build up a warehousing and service business in Russia very quickly, as we`ve already done with great success in Hungary and Poland."
ThyssenKrupp Services is active in Hungary over ThyssenKrupp Ferroglobus, in Poland over ThyssenKrupp Energostal and, starting just recently, in the Czech Republic over ThyssenKrupp Ferrosta. Besides rolled steel and pipes, high-grade steels, non-ferrous metals and plastics are offered to processing industry, the construction sector and craftsmen. Development of the sales and warehousing organization is progressing at full pace.
Limberg in conclusion: "Today we`re already achieving a quarter-billion euros in revenues and employing nearly 1,000 people in East European countries with our warehousing companies. With the new joint venture in Russia, short-term we plan on a sales volume of circa 100 million euros and building up several branches. In the process, we aim to intensify our existing business relations with Russian materials manufacturers."
Press photos by Joachim Limberg for downloading at www.thyssenkruppservices.de/deutsch/press/picturepool.php.
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