ThyssenKrupp AG Business Report FY2011
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-The Group's sales in FY2010-11 increased by 15% to 49.1 billion euro year-on-year due to the sales improved in all business areas.
-The Group's posted EBIT loss of 988 million euro due to the adjusted EBIT loss of the new steel plants of Steel Americas in Brazil and the USA, and to necessary impairment charges above all in the Steel Americas and Stainless Global business areas.
-The sales in FY2010-11 increased by 20.7% to 6.9 billion euro year-on-year. This increase was due to global growth in the auto industry, both for cars and trucks, especially in China and Brazil.
-The list of major orders received includes assembled camshafts and electromechanical steering systems, passive and active suspension systems, machined and forged crankshafts and brake components.
Restructuring-The Company announced that its Stainless Global will become an independent entity under the name Inoxum. Inoxum will bring together the production, processing and distribution of stainless steel flat products as well as the production and distribution of high-performance materials such as nickel alloys, titanium and zirconium. Companies with plants in Germany, Italy, Mexico, China and the USA employing roughly 11,300 people are organized in the Inoxum group. Sales in the fiscal year 2009-10 were around 5.9 billion euros. (From a press release on September 30, 2011)
-The Company announced that it will combine the chassis activities of the Bilstein group and Presta Steering, effective October 1, 2011. A holding company structure is planned in Eschen, Liechtenstein. (From a press release on July 29, 2011)
-The Company announced its business plans. They include the sale of ThyssenKrupp Waupaca and ThyssenKrupp Tailored Blanks, the integration the chassis activities of the Bilstein group and Presta Steering, the sale of the springs and stabilizers business and the Brazilian Automotive Systems business, and the independence of the activities of the Stainless Global business area. (From a press release on May 13, 2011)
Divestitures-The Company announced that the sale of the Metal Forming group to Gestamp Automocion S.L. of Spain has been completed with effect from July 20, 2011. The parties have agreed not to disclose the financial terms. ThyssenKrupp Metal Forming has production plants for chassis and body components in Germany, France, the UK, Spain, Poland, Turkey and China. (From a press release on July 20, 2011)
-The Company has decided to negotiate exclusively with the Spanish Gestamp Automocion S.L. on the sale of the Metal Forming group. This decision is based on the fact that the Group is no longer part of the core business of ThyssenKrupp Steel Europe. ThyssenKrupp Metal Forming has production plants for chassis and body components in Germany, France, the UK, Spain, Poland, Turkey and China. The group employs around 5,700 people and in the fiscal year ended September 2010 generated sales of almost 1.1 billion euros. With currently around 18,000 employees, Gestamp develops and produces metal components and structural parts for auto bodies. Active in 18 countries, it achieved sales of around 3 billion euros in 2010. (From a press release on March 1, 2011)
-Uhde, a company in the Plant Technology business area of the ThyssenKrupp Group, announced that the company, Germany-based Evonik Industries AG and the Chinese province of Jilin signed a non-exclusive licence for the construction and operation of an HPPO (hydrogen peroxide propylene oxide) plant at Jilin province. The licensing agreement will allow a joint venture which to be formed between Jilin Shenhua Group and Jilin North Chemical Company (JNCC) to build a plant for the production of 300,000 tonnes of propylene oxide based on a process developed by Uhde and Evonik. Propylene oxide is a raw material for polyurethane foams, which are used for automotive lightweight construction. (From a press release on June 17, 2011)
-Magnesium Flachprodukte GmbH (MgF), a subsidiary of ThyssenKrupp Steel Europe AG, and POSCO, South Korean steelmaker intend to cooperate in the production and supply of magnesium sheet. The two companies signed a Memorandum of Understanding (MoU) to support each other in the event of supply bottlenecks. The aim is to guarantee security of supply for the auto industry. (From a press release on October 5, 2010)
|(in millions of JPY)|
R&D Structure-Around 3,000 engineers, technicians and scientists work in research and development.
R&D ActivitiesEco-friendly material for vehicle construction
-The Company have developed a new material with a tensile strength of 1,000 MPa. It is currently the Company's strongest cold-formed steel and is particularly suitable for thin-walled, low-weight parts. Safety-relevant structural parts for automobile bodies can be made up to 20% thinner using this material. This reduces vehicle weight, saves energy and thus lowers CO2 emissions.
|(in million Euros)|
Investment inside Germany-ThyssenKrupp Steel Europe AG announced that the company is to invest around 300 million euros in its hot strip mills in Bochum and Duisburg, Germany. The hot strip mills now to be modernized produce various products including lightweight steels for the automotive industry and starting material for electrical steel, which is used for example in hybrid engines for cars. (From a press release on May 23, 2011)
-ThyssenKrupp Steel Europe AG's subsidiary MgF Magnesium Flachprodukte GmbH (MgF) and Freiberg University of Mining and Technology, both are based in Germany, inaugurated a new hot rolling mill for magnesium. Built with 7.5 million euros in funding from the state of Saxony, the mill will be operated by the university's Institute of Metal Forming. (From a press release on November 22, 2010)
Investment Outside Germany<China>
-The Company announced that it will open a new factory in Nanjing, Jiangsu province, China. Starting in October 2012 the plant will manufacture crankshafts for Chinese truck market. The Company will produce up to 360,000 crankshafts per year. The Company is investing around 190 million USD in the new plant. Set on a 190 hectare site, the factory will extend the production capacities of the ThyssenKrupp Forging Group. (From a press release on April 6, 2011)
-In Chengdu, China, the Company expanded its spring and stabilizer manufacturing operations.
-In Sao Paulo, Brazil, the Company expanded its spring and stabilizer manufacturing operations.