The Brazilian arm of thyssenkrupp announced investments estimated at $23 million to expand its plants dedicated to the production of items to the automotive sector.
The company is a leading producer in Brazil of items such as crankshafts, camshafts, connecting rods and steering columns.
The strategy of the company is in line with the decision of the local auto industry to focus on the production of plug-in, hybrid vehicles powered by ethanol, rather than on full electric vehicles.
The company plans to increase exports of these items to countries where the production of internal combustion engines is being reduced, rendering the local small production of heavy parts non-profitable.
Paulo Alvarenga, the CEO of thyssenkrupp in Brazil, was quoted by the newspaper Valor Econômico as saying that the plant of Poços de Caldas, in the southeastern state of Minas Gerais, is currently having its camshafts production capacity increased by 50 percent.
