| 11:47 PM EST

ThyssenKrupp to Sell Auto Steel Unit to Chinese Company


#asia #ThyssenKrupp

Share

Facebook Share Icon LinkedIn Share Icon Twitter Share Icon Share by EMail icon Print Icon

China's Wuhan Iron and Steel Co. has agreed to buy ThyssenKrupp AG's Tailored Blanks business for an undisclosed price.

The Duisburg, Germany-based unit makes laser-welded lightweight steel sheets used to form exterior body panels for automobiles. ThyssenKrupp says the unit, which generated revenue of €700 million ($909 million) last year, controls 40% of the global market for such steel.

RELATED CONTENT

  • Polestar 2: The Start of the Company’s EV Era

    Yes, there is a Polestar 1. But it is a hybrid, not an electric vehicle (EV). The Polestar 2 is the company’s first EV—the first of what promises to be many

  • Tires of the Future?

    If automotive tire upstart Amerityre can perfect its polyurethane tires, we may soon have to revise the phrase "where the rubber meets the road."

  • Volvo, Steel & Safety

    Anyone who has anything to do with the steel industry ought to go out and buy a Volvo right now.