December 02, 2008

ThyssenKrupp Services to set up 2 service centers in Russia

ThyssenKrupp Services AG has announced investing of around EUR 18 million in the construction of two new warehouse logistics and processing centers in Russia to be used by ThyssenKrupp Materials.

ThyssenKrupp Materials has purchased five hectares of land in St Petersburg and 2.5 hectares in Nizhny Novgorod. The center in Nizhny Novgorod is expected to open in September 2008, followed a little later probably in May 2009 by the St Petersburg facility. Both sites will feature state of the art equipment such as flame cutting, band saw laser cutting and packaging lines.

Mr Joachim Limberg VC of the executive board of ThyssenKrupp Services said “The Eastern European economy is performing very well and Russia in particular is becoming increasingly attractive for our business. In the future we intend to establish high quality materials more strongly in Eastern Europe and further reduce the share of commodities. We will also continue to improve the quality of our products and services and expand our customer portfolio.”

In addition to Russia, ThyssenKrupp Services has Eastern European operations in Bulgaria, Poland, Romania, the Czech Republic, Ukraine and Hungary. These companies employ over 1,000 people and last fiscal year generated combined sales of around EUR 700 million.