Automotive Industry
Industry: Email Alert RSS FeedThyssenkrupp adds [euro]300m steering unit.(News)(Brief Article)
Automotive News Europe, October, 2003
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Byline: Edmund Chew
ThyssenKrupp Automotive's takeover of DaimlerChrysler subsidiary Mercedes-Benz Lenkungen adds a [euro]300 million unit to the German supplier's growing steering systems business.
ThyssenKrupp already has substantial interests in steering systems through its Liechyenstein-based Presta subsidiary.
TKA has also acquired a 60 percent stake in Fawer Automotive Changchun's steering systems operations through a new joint venture, ThyssenKrupp Presta Fawer (Changchun) Co. Ltd. That addition will almost double ThyssenKrupp's steering-column output in China.
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