Reuters reported that German steel and industrial group ThyssenKrupp is in exploratory talks to dispose of its Metal Forming business that supplies body and chassis stampings and assemblies to carmakers.
A spokesman for ThyssenKrupp Steel Europe said that "We are looking for a best owner who can further develop the business. We are in talks with several interested parties but we are still at an early stage." He added that the business had been successfully restructured, without providing any details.
He said that Metal Forming currently employs some 5,500 workers mainly in Germany, France and the UK, but declined to say how much revenue Metal Forming generates.
Metal Forming was part of the group's erstwhile Automotive division that was broken up, with its constituent assets reallocated to ThyssenKrupp Steel and ThyssenKrupp Technologies in October 2006.
Metal Forming had posted sales of EUR 1.4 billion in fiscal 2005-06 and employed around 8,000. It has subsequently incurred repeated impairment and restructuring charges. The business, which includes units like Sofedit in France only acquired seven years ago, makes everything from bumpers and pillars to roof reinforcements and body panels.