ThyssenKrupp CEO Dr Heinrich Hiesinger inaugurated a new plant for automotive components in Changzhou. At the new location for powertrain technology in the Jiangsu province cylinder-head covers for the Chinese automotive market are manufactured. ThyssenKrupp has invested around EUR 40M in the new plant. From now on, up to 200 people will produce about one million cylinder-head covers there per year.
“As a broad-based technology company the Chinese market plays an important role for us. Our strategy focuses especially on China’s mobility sector. In recent years, we have strongly expanded in this industry with our elevator division and components businessâ?, says Dr Heinrich Hiesinger.
Five of ThyssenKruppâs business areas have operations in China today. In the last three fiscal years, the Group has invested over EUR 400M in new production facilities. For the financial year 2013/14, ThyssenKrupp expects sales of EUR 2.5B in China. This represents a growth of about 16% compared to the previous year. ThyssenKrupp operates currently more than twenty production sites in the country and employs about 16,800 employees in China.
The new plant for cylinder-head covers with integrated camshafts in Changzhou is the fourth such plant being built or taken into operation around the world by ThyssenKrupp in the last 12 months.