ThyssenKrupp Steel Europe finds new owner for construction activities in Kingspan
In
October 2011, the Executive Board of ThyssenKrupp Steel Europe decided to divest
the company's business with high-quality steel products for the construction
industry. The decision followed an extensive analysis of the options for
improving the business's competitiveness and earnings. After a review of various
alternatives, it was decided to seek a best owner solution. A purchase and sale
contract for the Construction Group has now been agreed with Kingspan. The
signing took place now. The sale is subject to approval by the supervisory
bodies and the responsible regulatory authorities. ThyssenKrupp expects the
closing to take place in the coming weeks.
The Construction Group of
ThyssenKrupp Steel Europe is one of Europe's biggest suppliers of lightweight
steel construction elements for use in the walls, facades, roofs and floors of
industrial buildings and in cold room construction. It offers architects,
engineers, planners and building owners tailored solutions for building with
steel. Outstanding application examples include Stuttgart exhibition center,
Melbourne sports stadium, and Hong Kong airport.
The Construction Group
processes around 120,000 tons of steel produced by ThyssenKrupp Steel Europe
into high-quality products for the construction industry. It manufactures around
13 million square meters of insulated panels and profiles per year. With sales
of roughly 315 million euros in the year to March 31, 2012, the Construction
Group comprises ThyssenKrupp Bausysteme, Hoesch Bausysteme and Isocab, employs
around 780 people and has plants in Germany (Kreuztal-Eichen, Oldenburg),
Austria, France, Belgium, and Hungary, as well as international distribution
companies.
In Kingspan, ThyssenKrupp Steel Europe has now found a new
owner for the construction activities which will strategically develop the
business and strengthen its European market presence. The internationally
successful and fast-growing Kingspan Group plc (headquartered in
Kingscourt/Ireland) achieved sales of 1.5 billion euros in 2011. The Group has
been producing construction elements and insulating materials for over 35 years
and employs around 6,000 people at almost 50 production sites worldwide.
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