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Foundry Daily News

09. March 2011

GER - ThyssenKrupp in talks for sale of Metal Forming with Gestamp

ThyssenKrupp has decided to negotiate exclusively with the Spanish Gestamp Automoción SL on the sale of the Metal Forming group.

The executive board of ThyssenKrupp AG has confirmed its intent to sell the Metal Forming Group to Gestamp and to approve entering into a corresponding share purchase agreement with Gestamp; as the next step the employee information and consultation processes will be conducted.

The Metal Forming group is no longer part of the core business of ThyssenKrupp Steel Europe. For this reason negotiations on the disposal were conducted with some potential buyers last year. An outstanding partner was identified in Gestamp Automoción, acting in a consortium with a financial investor. Gestamp is a major player in the automotive supply sector with more than 70 locations worldwide.

ThyssenKrupp Metal Forming has production plants for high uality chassis and body components in Germany, France, the UK, Spain, Poland, Turkey and China.

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