Austrian Action Composites GmbH takes over thyssenkrupp Carbon Components GmbH

Austrian Action Composites GmbH takes over thyssenkrupp Carbon Components GmbH

• thyssenkrupp group posts further success in focusing portfolio
• Change of ownership gives thyssenkrupp Carbon Components GmbH positive prospects for continuation
• Closing expected within the coming weeks
• Michael Höllermann, CHRO Multi Tracks: “Carbon Components stands for highly innovative products. Under the new management of Action Composites good prospects will open up for its highly skilled employees.”

(PRESS RELEASE) ESSEN, 19-Aug-2021 — /EuropaWire/ — thyssenkrupp (ETR: TKA), a German multinational industrial engineering and steel production conglomerate, has announced the divestment of thyssenkrupp Carbon Components GmbH to Action Composites GmbH from Austria. The deal represents yet another important successful step for the group in focusing its portfolio as part of its corporate restructuring.

Action Composites, founded in 2011, is a leading company in the automotive composites sector with annual sales of around €70 million and approximately 1,800 employees at four locations. The company specializes in the development, design and production of carbon composite components. Customers include European premium vehicle manufacturers as well as international high-volume manufacturers.

The two parties have agreed not to disclose the financial details of the transaction. The closing of the transaction is expected within the next few weeks.

As part of its strategic realignment, the thyssenkrupp group assigned the Carbon Components business to its Multi Tracks segment in October 2020. Various options were subsequently examined for the future of the business, resulting in thyssenkrupp deciding in May 2021 to discontinue the business.

With the signing of the contract between thyssenkrupp and Action Composites, the initiated discontinuation of thyssenkrupp Carbon Components can be averted. This is good news not only for the thyssenkrupp group but also in particular for the customers and roughly one hundred employees of thyssenkrupp Carbon Components.

thyssenkrupp Carbon Components will benefit from the production and sales network of Action Composites, giving it positive prospects for continuation including the opportunity to bring the products developed at the Kesselsdorf site near Dresden into volume production.

Michael Höllermann, CHRO of the Multi Tracks segment: “Carbon Components stands for highly innovative products. Under the new management of Action Composites, good prospects will open up for the employees. This was a decisive point for us in the sales negotiations.”

Christine Beuleke, Managing Director of Action Composites, is excited: “For Action Composites, the purchase of tkCC is a further step towards quickly achieving global market leadership in the field of CFRP wheels (motorcycle and passenger car). The location in Saxony, with its proximity to the Technical University of Dresden, forms an excellent basis for the Action Composites Group’s new technology and testing center. A special focus here is on the development of sustainable materials and production processes.”

thyssenkrupp Carbon Components was founded in 2012 in collaboration with TU Dresden. Among other things, the company develops and produces ultralight high-performance braided wheels for sports cars, motorcycles and mountain bikes.

www.thyssenkrupp.com

Media contact:

Evelin Veit
Industrial Solutions and Multi Tracks Head of Communications
Telephone:+49 201 844 534408

SOURCE: thyssenkrupp