Central Chinas Wuhan Iron & Steel (Group) Corp. has
completed its takeover of ThyssenKrupp AGs automotive
parts venture TWB Co. LLC.
steelmakers subsidiary operates 16 plants in Germany,
Sweden, Italy, Turkey, the United States, Mexico and China. It
supplies about 40 percent of the global tailor-welded blanks
market, it said.
Wuhan and ThyssenKrupp
signed the takeover agreement in September 2012, after which
the Chinese steelmaker set up an international tailor welded
blanks company registered in Duisburg, Germany.
Wuhan expects the takeover to enhance its competitiveness in
the global auto steel market with advanced technology in
A version of this
article was first published in AMM sister publication Steel