Company News, Services Mar 1, 2016 10:00 AM
thyssenkrupp to strengthen activities in Eastern Europe
thyssenkrupp Materials Services will strengthen its activities in Eastern Europe with the acquisition of the steel service center of IAI Holding A/S in the Hungarian city of Győr effective February 29, 2016.
The service center with approximately 50 employees is specialized in the cutting to length and slitting of coils and thus represents an ideal addition to the Materials Services portfolio. In addition to carbon steel, it will also process aluminum and stainless steel, in particular for the automotive sector. The new activity will be developed further under the name thyssenkrupp Materials Processing Hungary and managed by the Operating Unit Materials Processing Europe.
Marcus Wöhl, CEO of Materials Processing Europe, explains: “We are confident that the Hungarian automotive supply sector offers major growth potential and that our good distribution network will enable us to expand our activities.”
With excellent road, rail and waterway links, the Győr site is ideally situated to continue its existing business. Future expansion will be driven in close cooperation with thyssenkrupp’s steel division as strategic starting material supplier.
About Materials Services
With about 480 locations in more than 40 countries, the Materials Services business area specializes in materials distribution, logistics and services, the provision of technical services as well as services for industrial plants and steel mills. In addition to rolled steel, stainless steel, tubes and pipes, nonferrous metals, specialty materials and plastics, Materials Services also offers services from processing and logistics to warehouse and inventory management through to supply chain and project management.
thyssenkrupp is a diversified industrial group with traditional strengths in materials and a growing share of capital goods and services businesses. Around 155,000 employees in nearly 80 countries work with passion and technological expertise to develop high-quality products and intelligent industrial processes and services for sustainable progress. Their skills and commitment are the basis of our success. In fiscal year 2014/2015 thyssenkrupp generated sales of around €43 billion.
Together with our customers we develop competitive solutions for the challenges of the future in the areas Mechanical, Plant and Materials. With our engineering expertise we enable our customers to gain an edge in the global market and manufacture innovative products in a cost- and resource-friendly way. For us, technical progress and innovations, allied with the combined strength of the Group, are key factors enabling us to meet current and future customer and market requirements around the world, grow on the markets of the future, and generate strong and stable earnings, cash flows and value growth.