ThyssenKrupp has entered into a sale and purchase agreement with Gestamp Automoción, a developer and producer of metal components and parts for auto bodies, for transferring Metal Forming Group.
Merger control authorities and the supervisory boards of ThyssenKrupp Steel Europe and ThyssenKrupp are yet to approve the transaction deal.
ThyssenKrupp’s Metal Forming Group owns chassis and body parts manufacturing plants in France, Spain, Germany, Poland, China, Turkey and the UK.
ThyssenKrupp Steel Europe’s CEO, Edwin Eichler stated that a suitable owner has been discovered for its Metal Forming Group. He added that through Gestamp, the company can develop its Metal Forming Group in both technological and business perspective and will be able to reinforce its market position.
According to Francisco Riberas, Gestamp’s Chairman, the purchase of ThyssenKrupp’s business will considerably build the company’s market status in the white areas of chassis and body components and will also boost its global position.
Source: http://www.thyssenkrupp.com/