03/03/2011

Negotiations on the sale of Metal Forming continue with Spanish company Gestamp

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.

Source: ThyssenKrupp