ThyssenKrupp restructures its electrical steel unit

ThyssenKrupp restructures its electrical steel unit

According to the statement released from German mill ThyssenKrupp AG, the company is planning to restructure its electrical steel unit as of June 1, 2004. The unit has sales of over €650 million. In line with the restructuring program, the grain-oriented (GO) and non-oriented (NO) operations of the company will be separated. Accordingly, NO activities, which are concentrated in Bochum (Germany), Nashik (India) and the Motta Visconti service center in Italy and generate sales of approximately €400 million, will be allocated to ThyssenKrupp Stahl AG. For GO activities, ThyssenKrupp Electrical Steel GmbH will be transfered to Gelsenkirchen plant and will be the parent firm of the two plants in Gelsenkirchen (Germany) and Isbergues (France).