Thyssenkrupp moves away from combustion engines

ThyssenKrupp has created a new structure for Forged Technologies. The company announced that it will strive to create new products for industrial equipment and continue to scale down production of components for internal combustion engines.

ThyssenKrupp has a strong position in the market for crankshafts and components for construction machinery, mining and agriculture. By combining all materials and processing possibilities, the company wants to expand its product portfolio in the future. Its mining, energy and mobility sectors are of particular interest. Strengthening and centralizing the new segment will make better use of opportunities and build new business sectors.

“In recent years, our range of products for the automotive segment has moved into chassis technology. Engine components now account for only 20% of our sales. By developing counterfeit products for new markets and new customers, we want to further reduce this share in the future and exploit the growth potential in the industry segment, ”said Carsten Kroos, General Manager of ThyssenKrupp Component Business.

Group sales amount to over € 1 billion. The 18 companies employ 7,000 people and the distribution network covers more than 70 countries. The product range includes parts and components, forged and machined, for the automotive, construction and mechanical engineering industries.

The new segment also includes independent Brazilian forging and mechanical plants, as well as a group of crankshafts and chassis components based in Italy.