German steelmaker ThyssenKrupp has announced that it has begun the construction of a new automotive supply plant in Brazil. Accordingly, in the coming months a new production facility for assembled cylinder-head modules will be built in Poços de Caldas in the southern Brazilian state of Minas Gerais.
ThyssenKrupp is investing around €40 million in the construction of the plant, which is expected to be completed by the end of this year. Production is scheduled to begin in early 2015. The new plant will be able to produce more than one million modules a year, which ThyssenKrupp will supply to car makers in Brazil. The new plant will create up to 170 jobs in the coming years
According to ThyssenKurpp's statement, the construction of the new plant for cylinder-head modules is part of the company's global growth strategy as a supplier of high-performance components to the automotive industry.