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.