Services Jul 27, 2015 9:00 AM

ThyssenKrupp enters into new long-term agreement with ITP

ThyssenKrupp Aerospace UK, a company belonging to the ThyssenKrupp Business Area Materials Services and the Spanish aero engine components manufacturer ITP based in Zamudio have agreed on a strategic cooperation. For the next five years, the aerospace experts of the ThyssenKrupp Group will take over the supply of stainless steel and nickel products to ITP locations in India and Mexico. ITP is a global operator and foremost manufacturer of aircraft engine components for the civil aviation sector.

"Both parties will benefit from the cooperation. Through our role as a global materials and services provider, ITP will in future be able to fully concentrate on its own core business and continue along the growth path already taken,"" comments Bob Baggaley, Divisional Director of ThyssenKrupp Aerospace UK. The new long-term agreement was signed at this year's Paris Air show, one of the biggest and most important aviation industry fairs. ""We're delighted at the new cooperation agreement and convinced that our global presence, our inventory range and processing capabilities as well as our expertise as supply chain specialist will assist ITP in further expanding its business,"" said Bob Baggaley following the signing of the contract.

‘’ITP is likewise convinced that the agreement has plenty of advantages to offer’’ commented Miguel Angel Lizana, Purchasing and Supply Chain Director.

About ThyssenKrupp

ThyssenKrupp, a diversified industrial group headquartered in Essen, Germany, has around 150,000 employees in over 80 countries whose ideas and innovations are helping to develop solutions for sustainable progress. In fiscal year 2013/2014, ThyssenKrupp generated sales of over €41 billion.

ThyssenKrupp Aerospace provides the world's leading aerospace companies with materials and supply chain management services. The multinational group operates from numerous locations in the Americas, Europe, North Africa and Asia Pacific. At home in all the world's aerospace manufacturing regions, the company's 1,600 employees aggregate demand across a single supply chain on behalf of the world's leading OEMs. At the same time, the ThyssenKrupp Aerospace network supplies local services to meet the needs of aerospace subcontractors throughout the world.