TKS to invest in Volvo Center
German steel producer ThyssenKrupp will reportedly invest more than €21 million in a new service center to supply Ford unit Volvo Cars in Sweden with flat steel products. The center, which will be built on the site of the Volvo plant in Olofstroem, will supply around 80'000 tons of tailored blanks and cut-to-size steel sheets annually. Production at the service center is scheduled to start by the end of 2005, while full capacity production is expected at the end of 2006. TKS became the largest tailored blanks producer in the world with a production volume of 590'000 tons in 2004.