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ThyssenKrupp to Consolidate Wire Production at Head Office Location

May 9 2006

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Against the background of growing market requirements and increasing competition, ThyssenKrupp VDM has launched a major program to enhance all its business processes.

ThyssenKrupp VDM intends to examine all value levers with a view to improving its positive earnings and stabilizing the company long term.

In this context, ThyssenKrupp VDM has decided to invest six million euros in modernizing its wire production operations. However, the current wire production site in Bärenstein cannot be upgraded to meet today's technical and logistical requirements. For this reason the company plans to relocate its wire production operations from Bärenstein to Werdohl, the location of its head office, by 2008. The aim is to secure jobs in the region over the long term. Employees from the Bärenstein facility will be offered jobs at Werdohl and other ThyssenKrupp VDM locations.

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