. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . inDusTry neWs
ThyssenKrupp to Divest Waupaca Casting
U.S.-based ferrous caster ThyssenK-
rupp Waupaca (TKW), Waupaca, Wis., is on the selling block, according to a press release issued by its parent company. The executive board of TKW parent Thyssenkrupp AG, Essen, Germany, announced it decided to divest the iron casting division as part of its plan to re- duce debt and focus on the automotive sector, particularly in emerging markets. “ThyssenKrupp wants to focus the
portfolio and discard business activities for which alternative strategic options are more suitable,” read the company’s press release. A representative for the company did not immediately answer requests for comment. ThyssenKrupp reports TKW has
sales of more than $1 billion an- nually and about 3,000 employees. The metalcasting company recently completed a two-year program to upgrade the pouring systems at its Plant 1 metalcasting facility. The upgrade included the installation of six new pouring mechanisms. The parent said the metalcasting
company would be sold “within the context of a best owner process.” The sale is subject to the approval of Thys- senKrupp’s supervisory board, which will vote on May 13. In addition to the sale of TKW, ThyssenKrupp announced it intends to divest ThyssenKrupp Tailored Blanks, consolidate the Bilstein Group and Presta Steering, divest its traditional springs and stabilizers business activi- ties, as well as the Brazilian Automo- tive Systems business, and “separate” Stainless Global from the group. Thys- senKrupp already is in the process of divesting ThyssenKrupp Metal Form- ing and ThyssenKrupp Xervon and implementing a partnership between Abu Dhabi Mar and ThyssenKrupp Marine Systems. Based on data from the previous
fiscal year, ThyssenKrupp estimates the divestments to be worth more than $14 billion and involve 35,000 employees. The manufacturer currently has almost 177,000 employees in more than 80 countries and generated sales of more than $60 billion in FY2009-2010. METAL
May/June 2011 For Design engineers & Purchasers 11
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