ThyssenKrupp close to finalize auto divestments
Reportedly ThyssenKrupp is close to sell its business units in the automotive sector after selling its stainless steel business.
It’s known that the three units for sales including springs and stabilizers business, iron-casting unit Waupaca and the Tailored Blanks unit generated annual revenue of €2.5 billion.
A person close to transaction said ThyssenKrupp is set to sell the springs and stabilizers business to Italy’s Sogefi for €100 million ~ €200 million. Waupaca the iron-casting unit appears to have preferred buyer and the deal of Tailored Blanks unit might be affected by the recent political crisis in China
News Date 20 Apr 2012 11:20:08 reported by Kate Hsieh