How treasury and procurement join forces at Knorr-Bremse


The Covid-19 pandemic has underlined the need for a company’s treasury and procurement teams to combine their strengths. Kai Gloystein and Christoph Müller-Stahl tell flow why this has been common sense at Knorr-Bremse for years and explain how the crisis has impacted their work


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erman company Knorr-Bremse AG was established in Berlin in 1905 and manufactures braking


and other safety-relevant systems for rail and commercial vehicles. The company’s product portfolio also includes intelligent door systems, control components and air conditioning systems. Now headquartered in Munich, it is present in more than 30 countries. Knorr-Bremse operates under several corporate brand names, including Bendix,


Hasse & Wrede, Merak, Microelettrica, New York Air Brake, RailServices, Selectron, Sheppard, Sigma, TruckServices and Zelisko. It has established a strong reputation for safety over more than 115 years. For 2021, Knorr-Bremse reported revenues of €6.7bn, EBITDA of €1.2bn and net income of €650m. In 1985, the late Heinz Hermann Thiele bought Knorr-Bremse from his then employer, and in 2018 he floated the company and raised €3.9bn. The family continued to have a majority stake of 59%.


Following Thiele’s death in early 2021, it was announced that this stake would, under the terms of his will, be transferred to a family foundation.


Departmental collaboration Colleagues Kai Gloystein, the company’s Head of Corporate Finance & Treasury, and Christoph Müller-Stahl, Director Global Purchasing Controlling, agree that the close relationship at Knorr-Bremse between treasury and procurement has been greatly


Photography: Knorr-Bremse


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