ThyssenKrupp buys property in Hungary

The German company Thyssenkrupp has bought a service center working to fulfill orders from the automotive industry. This will allow the company not only to increase its volume, but also to expand its capabilities - in addition to the ferrous metallurgy plant, it will also process aluminum and stainless steel.

New acquisition ThyssenKrupp is the Hungarian subsidiary of Ib Andersen Industri, which has been operating as ThyssenKrupp Materials Processing Hungary since early March. The company is located in Gyёрr, near the border with Austria and Slovakia, and has two cutting lines employing 50 people. It provides processing of black steel, stainless steel and aluminum for supply to Audi, Suzuki, Opel, Fiat, Skoda and the Jaguar Land Rover plant under construction in Slovakia. One of the reasons for this acquisition may be the desire to enter the aluminum market with the construction of the Slovak JLR factory.

“We are confident that the Hungarian auto parts market will provide high growth potential, which, combined with a good distribution network, should increase sales,” said Markus Wohl, Managing Director of Thyssenkrupp Materials Processing Europe. Belonging to Thyssenkrupppa will increase the company's production capacity in Hungary.