German steel giant ThyssenKrupp has announced that it has signed an agreement with China-based steelmaker Wuhan Iron and Steel Corporation (WISCO) for the sale of its subsidiary ThyssenKrupp Tailored Blanks, which produces tailored steel blanks for the auto industry. The parties have agreed not to disclose the purchase price.
The divestment of the business is part of the portfolio optimization announced by ThyssenKrupp in May 2011 in connection with its strategic development program. ThyssenKrupp stated that the sale is subject to approval by the supervisory bodies and the responsible regulatory authorities.
ThyssenKrupp Tailored Blanks is an important supplier of body systems to the auto industry. Tailored products are made of individual sheets of different steel grade, thickness or finish, joined together by laser welding.
ThyssenKrupp sells its tailored blanks business to WISCO
Similar articles
ThyssenKrupp closes the sale of Metal Forming group to Gestamp Automoción of Spain
21 Jul | Steel News
Mexico’s domestic ferrous scrap prices trend sideways for another week
05 Jun | Scrap & Raw Materials
EU HRC buyers focus on local trade, interest in imports only sporadic due to risks
05 Jun | Flats and Slab
Global View on Scrap: Turkish scrap market remains relatively silent, Asia drops significantly
05 Jun | Scrap & Raw Materials