thyssenkrupp further expands in Hungary with plans for springs and stabilizers production facility in Debrecen

CEO of thyssenkrupp´s Springs & Stabilizers business, Matthias Koll (3rd from left), and Hungarian Foreign Minister, Peter Szijartó (3rd from right), announcing new investment in Debrecen

New production facility for springs and stabilizers to be built in Debrecen at a cost of around 35 million euros

ESSEN, 03-Feb-2017 — /EuropaWire/ — The technology group thyssenkrupp plans to build a further automotive and components plant in Hungary. The investment was announced today in Budapest by Hungarian Foreign Minister Peter Szijartó and the CEO of thyssenkrupp’s Springs & Stabilizers business unit Matthias Koll. Construction of the plant on a roughly 20,000 square meter site in the eastern Hungarian city of Debrecen will start this spring. Over six million coil springs and stabilizers per year will be produced there from 2018 for customers including renowned European OEMs. The roughly 35 million euro investment will create around 250 new jobs at the site by 2020.

Karsten Kroos, CEO of thyssenkrupp’s Components Technology business area: “In recent years Hungary has developed into an important European location for the international auto industry. In the last four years alone, car production in Hungary has more than doubled to over 500,000 light vehicles produced there in 2016. The expansion of our production capacities in Hungary is a continuation of the profitable growth strategy being pursued by our components business together with our customers.”

Early last year thyssenkrupp began building a new facility for engine and chassis components near Budapest. Production of electric power-assisted steering systems and cylinder head covers with integrated camshafts is planned to commence in 2018. The company is investing around 100 million euros in this new facility. thyssenkrupp also opened a front and rear axle assembly plant for Audi in Győr in 2013.

But the growing importance of Hungary as a location for thyssenkrupp is not limited to production. The company already operates a software development center for steering technology in Budapest, where some 500 software engineers work to develop solutions for electro-mechanical steering systems for the international automotive industry. Based on this steering technology the center is also working on steer-by-wire solutions and driver assist systems as a precursor to autonomous driving.

thyssenkrupp in the automotive industry

thyssenkrupp is one of the world’s leading suppliers of materials and components to the auto industry. Nine out of ten premium class cars are fitted with components made by the company. One in three trucks feature drive components from thyssenkrupp. In the 2015/2016 fiscal year thyssenkrupp’s sales in the automotive sector came to around 9.8 billion euros. Customers include practically all the big auto manufacturers.

thyssenkrupp Components Technology business area

Employing around 30,000 people thyssenkrupp’s Components Technology business area produces high-tech components worldwide for the automotive and machinery sectors. In the auto sector the product range includes assembled camshafts, cylinder head modules with integrated camshafts, crankshafts, steering and damping systems, springs and stabilizers as well as the assembly of axle modules. In the machinery sector thyssenkrupp supplies components for construction equipment, wind turbines and numerous general engineering applications. In fiscal year 2015/2016 the Components Technology business area achieved sales of 6.8 billion euros.

SOURCE: thyssenkrupp AG

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