Thyssenkrupp expands in response to new orders from the automotive sector

ThyssenKrupp's Technology Components business has announced an expansion in a new headquarters in Germany to accommodate new orders from the automotive industry, the company said.

The Elevator Steel and Automotive Group is planning to move its Bilstein headquartered unit in Ennepetal, North Rhine-Westphalia, to a new location in Bochum, about 30 kilometers away.

“Our order books are very significant right now,” said Peter-Klaus Kirner, CEO of ThyssenKrupp, declining to provide details on new orders.

"In the next few years, our growth will be mainly driven by new orders from the automotive industry, and we must be ready to cope with this, including the development of our administrative departments." Thyssenkrupp said it would not be hiring new employees straight away and that the company needed space to grow above all else.

At the same time, ThyssenKrupp Technology Components Unit reported a 3 percent decline in orders from the end of December, saying orders from automakers were steady but orders from truck and construction machinery manufacturers were weak.