ThyssenKrupp plans to grow further in China

Speaking at the opening of ThyssenKrupp Technology Days in Shanghai on September 29, 2007, ThyssenKrupp AG's CEO Dr. Ekkehard Shulz said they were aiming to double their sales in China to €2 billion and invest €500 million in the coming years.
 
In the fiscal year to the end of September 2007, ThyssenKrupp increased its sales to customers in China by ten percent.
 
Meanwhile in the 2005/06 fiscal year the Group achieved sales of €1 billion in China. Roughly €400 million of this figure was generated by Shanghai Krupp Stainless, which is 60 percent owned by ThyssenKrupp and 40 percent by Baosteel's subsidiary Shanghai Pudong Iron & Steel Co Ltd.
 
ThyssenKrup also has a galvanized steel partnership with Angang New Steel named ANSC-TKS Galvanizing Co. Ltd in northeast China.  This joint venture currently has an annual production capacity of 400,000 mt which is planned to be doubled by next year.
 
Schulz also said that China was expected to export 10 million tons of steel to the EU this year, which is twice last year's amount. If China wishes to avoid long-running trade conflicts, then exports should be curbed, according to Schulz.