cirr
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Hope that the current euro debt crisis lasts for 5 more years so that Chinese companies might have the time to pick up more quality european rivals，especially German manufacturers，on the cheap。
September 28, 2012 12:03 pm
ThyssenKrupp has agreed to sell its Tailored Blanks unit to Chinese peer Wuhan Iron and Steel as part of its move to shed assets with overall revenues of €10bn.
It said on Friday it had now signed or closed sale agreements for about 95 per cent of the businesses up for disposal, adding that the two parties had agreed not to disclose the sale price for Tailored Blanks.
The disposal adds to a string of deals in which Chinese companies have scooped up German industrial know-how, such as the purchase of machinery manufacturers Schwing and Putzmeister by XCMG and Sany, respectively.
Two people close to the transaction this week said a Chinese machinery group was likely to buy German rival KraussMaffei Technologies.
ThyssenKrupp Tailored Blanks, the market leader in laser-welded blanks for the automotive industry with a market share of about 40 per cent, has annual sales of €700m and 950 employees worldwide.
Steelmaking conglomerate ThyssenKrupp, whose business stretches from submarines to lifts, is in the throes of a radical restructuring in which it is trying to sell assets to slash debt and refocus on its core European business.
It is expected to receive indicative offers for its steel mills in Brazil and the US on Friday, with companies in the two countries as well as China and Korea seen as possible bidders.
China’s Wuhan to buy ThyssenKrupp unit - FT.com
September 28, 2012 12:03 pm
ThyssenKrupp has agreed to sell its Tailored Blanks unit to Chinese peer Wuhan Iron and Steel as part of its move to shed assets with overall revenues of €10bn.
It said on Friday it had now signed or closed sale agreements for about 95 per cent of the businesses up for disposal, adding that the two parties had agreed not to disclose the sale price for Tailored Blanks.
The disposal adds to a string of deals in which Chinese companies have scooped up German industrial know-how, such as the purchase of machinery manufacturers Schwing and Putzmeister by XCMG and Sany, respectively.
Two people close to the transaction this week said a Chinese machinery group was likely to buy German rival KraussMaffei Technologies.
ThyssenKrupp Tailored Blanks, the market leader in laser-welded blanks for the automotive industry with a market share of about 40 per cent, has annual sales of €700m and 950 employees worldwide.
Steelmaking conglomerate ThyssenKrupp, whose business stretches from submarines to lifts, is in the throes of a radical restructuring in which it is trying to sell assets to slash debt and refocus on its core European business.
It is expected to receive indicative offers for its steel mills in Brazil and the US on Friday, with companies in the two countries as well as China and Korea seen as possible bidders.
China’s Wuhan to buy ThyssenKrupp unit - FT.com
