28 SEPTEMBER 2015www.thehindubusinessline.com
ThyssenKrupp looks to source aluminium, zinc from India
Edited by : AL CIRCLE
2 min read
Germany-based diversified industrial group ThyssenKrupp plans to set up a resource office in India for sourcing of metals such as aluminium and zinc for its projects related to aerospace and defence among others spread across the globe.
The group has 1,55,000 employees across 80 countries with a turnover of around $45 billion.
“Our plan is to focus on sourcing materials, which India is highly resourceful in and which have not been previously sourced by us, like aluminium, zinc and ore. We are also exploring options to form a resource office that will look more intensively into opportunities like these,” ThyssenKrupp India CEO Michael Thiemann told PTI.
India, which is its third largest market in Asia Pacific, has sales of about ?3,300-3,700 crore and a headcount of 5,700. It is present in five diversified business areas and with 10 operating units in the country. ThyssenKrupp’s products and services range from plant design and engineering to building industrial plants, marine systems and elevators to engine components, bearings and undercarriages.
“In our material services business, together with our manufacturing facilities, a lot of material and components are sourced from India and then shipped for projects in MENA, Europe and South East Asia, he added. Its material services business supplies raw materials to aerospace, defence and space segments for both Indian government and private sectors. The products include steel, aluminium and titanium.
Thiemann said the major materials sourced include steel, coated steel products as well as non-steel products such as aluminium, titanium and plastic. Selected finished equipment/ components are also sometimes sourced.
The group has 1,55,000 employees across 80 countries with a turnover of around $45 billion.
“Our plan is to focus on sourcing materials, which India is highly resourceful in and which have not been previously sourced by us, like aluminium, zinc and ore. We are also exploring options to form a resource office that will look more intensively into opportunities like these,” ThyssenKrupp India CEO Michael Thiemann told PTI.
India, which is its third largest market in Asia Pacific, has sales of about ?3,300-3,700 crore and a headcount of 5,700. It is present in five diversified business areas and with 10 operating units in the country. ThyssenKrupp’s products and services range from plant design and engineering to building industrial plants, marine systems and elevators to engine components, bearings and undercarriages.
“In our material services business, together with our manufacturing facilities, a lot of material and components are sourced from India and then shipped for projects in MENA, Europe and South East Asia, he added. Its material services business supplies raw materials to aerospace, defence and space segments for both Indian government and private sectors. The products include steel, aluminium and titanium.
Thiemann said the major materials sourced include steel, coated steel products as well as non-steel products such as aluminium, titanium and plastic. Selected finished equipment/ components are also sometimes sourced.
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