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Wuhan Iron & Steel closes buy of TK venture

Keywords: Tags  ThyssenKrupp, Wuhan Iron & Steel, TWB, welded blanks, steel venture, automotive sheet


SHANGHAI — Central China’s Wuhan Iron & Steel (Group) Corp. has completed its takeover of ThyssenKrupp AG’s automotive parts venture TWB Co. LLC.

The German steelmaker’s 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 tailor-welded blanks.

A version of this article was first published in AMM sister publication Steel First.


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