ThyssenKrupp to Sell Auto Steel Unit to Chinese Company
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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.
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