ThyssenKrupp China Ltd seeks approval
ThyssenKrupp today confirmed that the company is planning to establish a national holding company in Beijing, China. The relevant authorities in China still need to give their final approval for the company, which will likely be called ThyssenKrupp China Ltd. The new holding company will be responsible for coordinating ThyssenKrupp's wide ranging activities in China. Currently, ThyssenKrupp's operations in China include 30 companies and 3'700 employees. The new holding company will also establish and develop contacts between high-ranking representatives of the parent company and decision-makers in government, administration and industry. ThyssenKrupp's sales in China reached €3.5 billion during the 2003/2004 fiscal year, accounting for 13.6% percent of the company's total foreign sales of €25.8 billion.