Further invest in automotive components business in China
thyssenkrupp is further expanding its automotive components business in China. The industrial group plans to build a new plant for springs and stabilizers in the Chinese city of Pinghu. Construction work is to start in the course of this year, and from 2018 the plant will produce around five million springs and stabilizers per year. Customers include European, American, Japanese and Chinese OEMs. thyssenkrupp is investing around 30 million euros in the new facility, which will create up to 200 new jobs.
Karsten Kroos, CEO Business Area Components Technology at thyssenkrupp: “The new site in Pinghu will be our third plant for springs & stabilizers in the People’s Republic of China and will further expand our global production network. The facility will use state-of-the-art manufacturing processes, and local development teams will adapt our products specifically for our customers on the Chinese market.”
The Springs & Stabilizers business unit is part of thyssenkrupp’s Components Technology business area, which supplies its products to customers around the world from the automotive, construction and wind energy sectors and currently operates eleven production sites in China alone. In the last three fiscal years thyssenkrupp has invested around 300 million euros in expanding the plant infrastructure of its components business in China, benefitting in particular from stable growth rates in the Chinese auto industry, where continued annual growth of approximately four percent is forecast. thyssenkrupp is currently building one of the world’s biggest steering system plants in Changzhou, Jiangsu Province.
In the 2015/2016 fiscal year thyssenkrupp achieved sales of around three billion euros in China, of which roughly a third was accounted for by the Components Technology business area.