Portfolio optimization

Portfolio further optimized

Following on from previous years ThyssenKrupp continued its active portfolio management strategy in the reporting period and carried out several transactions.

One of the main transactions in 2008/2009 in the Steel segment was the increase in the minority stake held by the Brazilian company Vale in ThyssenKrupp CSA Siderũrgica do Atlântico from around 10% to a total of just under 27%. This additional investment will further strengthen the existing strategic partnership between ThyssenKrupp and Vale.

Technologies further optimized its activities in the automotive area with various smaller portfolio measures. In addition, it acquired the still outstanding 25% minority stake in ThyssenKrupp Marine Systems AG, which is therefore now wholly owned by ThyssenKrupp.

To counter overcapacities in the shipyard area, ThyssenKrupp Marine Systems and SIAG Schaaf Industrie intend jointly to develop the Emden site of Blohm + Voss Nordseewerke into a viable hightech location for offshore technology and so secure jobs on a sustainable basis. A corresponding purchase agreement was signed.

In October 2009 ThyssenKrupp Marine Systems and the Abu Dhabi MAR Group signed a memorandum of understanding to establish a close strategic partnership in the construction of naval surface ships. The aim of the planned collaboration is to boost marketing opportunities for Blohm + Voss's naval surface vessels – frigates and corvettes – while securing shipbuilding employment in Germany.

Elevator again strengthened its global market position in the elevator business with smaller acquisitions.

For strategic reasons the Services segment disposed of its Industrial Services business. The sale of ThyssenKrupp Industrieservice GmbH to WISAG, one of Germany's leading services groups, was initiated at the beginning of October 2009. The transaction is to be completed in the 1st quarter of fiscal 2009/2010. In addition, the disposal process began for the North American scaffold specialists Safway.

Since the merger of Thyssen and Krupp through to the end of the reporting year we have sold companies with sales of €9.5 billion and acquired others with sales of €8.8 billion.

Source: Annual Report 2008/2009, p. 102-103