Metal Center News
Minimize
  
6-2-2011 News
Minimize
  ThyssenKrupp Eyes Spinoff of Stainless, Foundry Operations

Germany's ThyssenKrupp AG, one of the world's largest metals producing and distribution companies, has announced plans to divest several properties in North America—possibly including its new stainless mill in Calvert, Ala.

Among many strategic development items released at the company's supervisory board meeting in May were plans to spin off its stainless steel division into a separate company and to sell its ThyssenKrupp Waupaca business.

The company had worldwide sales of $8.5 billion in its stainless business division in 2010. Its activities during the year included the opening of its new stainless production facility in Calvert.

"The supervisory board instructed the executive board to examine all options for the independent continuation of the operations. We are thus widening our strategic options for stainless and increasing its financial independence," says Dr. Heinrich Hiesinger, executive board chairman.

He says the company's decision to create an independent company is consistent with its measures to develop and strengthen its stainless business, including a shift in its European processing operations and the Alabama ramp-up, which is still ongoing.

"The global stainless steel market is a growth market. However, the supplier side above all in Europe and partly in Asia is characterized by overcapacities," Hiesinger says. "Against this backdrop, the stainless market faces a consolidation process for which our decision provides further options. We are giving stainless the opportunity to develop its competitive position with greater flexibility—and also with regard to potential strategic partnerships."

Among other actions, ThyssenKrupp has opted to pursue the sale of its ThyssenKrupp Waupaca operation, a U.S. foundry business. ThyssenKrupp Waupaca produces gray, ductile and compacted graphite iron castings, melting more than 9,500 tons per day. Castings are made using vertical, high-pressure, green sand molding utilizing several different mold sizes to produce castings ranging up to 350 pounds.

The division has six facilities in the U.S., including three in Waupaca, Wis., plus one each in Marinette, Wis., Tell City, Ind., and Etowah Tenn.

Company officials did not respond to MCN’s request for further comment.

  
From the Editor's Desk
Minimize
September 2014: No. 1 Ranking Has a Nice Ring to Reliance
More...
 
Pause
Business Practices and Technologies
Minimize
September 2014: 'What the Heck Do You Mean I Have to Give the Money Back!'
More...
The Cutting Edge, a service center technology supplement to Metal Center News
More...
Summer 2013
More...
 
Pause
New Products
Minimize
Trumpf Expands Range on TruMark 5000 Series
More...
Koike Aronson Debuts New Plasma Cutter
More...
Miyachi Unitek's Sigma XY
More...
New TMC is Messer's Largest Cutting Machine
More...
Laserdyne 795 XLZ Designed for 3D Parts
More...
Mazak's STX Champion Cuts Thick Sheets
More...
 
Pause
Directories
Minimize

 
Metal Distribution 2014  is your on-line guide to Metal Producers, Equipment Manufacturers and Software companies.
 



 
2014 Directory of Master Distributors
Not Published on This Web site
The Metal Center News Directory of Master Distributors—distributors who sell to other distributors—is an invaluable tool for service centers seeking new sources for special or hard-to-find products. Master distributors play an important role in the marketplace, giving service centers an alternative to buying in mill quantities and helping to remove redundant and excess inventories from the distribution channel.


Print copies are available for $85 U.S. for each copy.
Download Order Form.
 
2014 Directory of Toll Processors
Not Published on This Web site
Metal Center News'
annual toll processing directory is a simple-to-use resource to help companies locate service providers that can meet their specific processing needs.


Print copies are available for $85 U.S. for each copy. Download Order Form.
Privacy Statement  |  Terms Of Use
Copyright by Metal Center News



Tuesday, October 21, 2014