ThyssenKrupp nears sale of three automotive sector units: report

20 Apr 2012

1

ThyssenKrupp AG, Germany's largest steelmaker, is nearing a deal to sell its three automotive steel units and has lined up potential buyers for the businesses that have annual combined revenues of around €2.5 billion ($3.28 billion), Reuters yesterday reported, citing several people close to the transaction.

The sale comes less than three months after the Essen-based steel maker sold its Inoxum stainless steel division to Finland's Outokumpu Oyj, for €2.7 billion ($3.55 billion) in late January. (See: ThyssenKrupp to sell Inoxum stainless steel to Finland's Outokumpu for $3.55 bn)

ThyssenKrupp, whose business stretches from submarines to lifts, had announced in May 2011 an extensive reorganisation that includes the sale or spinoff of its non-core units in order to cut debt and focus on engineering.

The three units up for sale are its ThyssenKrupp Springs and Stabilizers, its iron-casting unit ThyssenKrupp Waupaca Inc and Thyssenkrupp Tailored Blanks, said the news agency.

ThyssenKrupp Springs and Stabilizer was spun-off from ThyssenKrupp Bilstein Suspension in October 2011. Its product range comprises steel springs, full stabilisers, as well as premium products as weight-optimized tubular stabilisers and part-stabilisers.

It has a global workforce of more than 2,500 at seven locations in Europe, North and South America, and China. It is currently building another plant in China, which is its biggest market.

Business History Videos

History of hovercraft Part 3...

Today I shall talk a bit more about the military plans for ...

By Kiron Kasbekar | Presenter: Kiron Kasbekar

History of hovercraft Part 2...

In this episode of our history of hovercraft, we shall exam...

By Kiron Kasbekar | Presenter: Kiron Kasbekar

History of Hovercraft Part 1...

If you’ve been a James Bond movie fan, you may recall seein...

By Kiron Kasbekar | Presenter: Kiron Kasbekar

History of Trams in India | ...

The video I am presenting to you is based on a script writt...

By Aniket Gupta | Presenter: Sheetal Gaikwad

view more