The sale of ThyssenKrupp Tailored Blanks business to China’s Wuhan Iron and Steel Corporation (WISCO) is completed, following the approval by the relevant regulatory authorities in late July.
The contract for the sale of TKS’s tailored blanks manufacturering business for sheet steel for use by the automotive industry was signed in September 2012. The divesting of its tailored blanks business by TKS was carried out as part of portfolio optimisation, which had been announced as part of the strategic development of the ThyssenKrupp Group.
Other recent sales by TKS include its stainless division TK Inoxium to Finnish stainless producer Outokumpu in December 2012. For a 29.9% stake in Outokumpu. TKS is also seeking buyers for its carbon steel America’s business and its slab business in Brazil.
ThyssenKrupp Tailored Blanks Group, headquartered in Duisburg since 1985, has a market share of about 40% of world demand and TKS was the world's leading supplier of this product. The Tailored Blank company has around 930 employees (300 in Germany) and a total of 16 plants in Germany, Sweden, Italy, Turkey, the USA, Mexico and China. Annual sales figure last year were around Euro 740M.
The sale to WISCO also includes ThyssenKrupp Laser GmbH. The company, based in Ravensburg, Germany is a partner for laser welding systems as well as systems for material and component handling, automation, assembly and quality control.
In 2012, Wuhan Iron and Steel Corporation (WISCO) produced more than 36Mt of crude steel making it the sixth largest steelmaker in the world. The company has subsidiaries and sales offices in more than 10 countries.