Cooperate on sales

HSP Hoesch Spundwand und Profil GmbH of Dortmund and ThyssenKrupp GfT Gesellschaft für Technik mbH, Essen, to cooperate on sales

Salzgitter Group member HSP Hoesch Spundwand und Profil GmbH (HSP) based in Dortmund and ThyssenKrupp GfT Gesellschaft für Technik mbH in Essen, a subsidiary of ThyssenKrupp Materials AG, concluded a long-term sales agreement in February 2003. The two companies are to set up a joint venture which will incorporate the Contractors’ Plant division of ThyssenKrupp GfT Gesellschaft für Technik mbH, with HSP contributing its sales capability. The new company ThyssenKrupp GfT Bautechnik GmbH will also acquire a subsidiary in the form of Krupp Tiefbautechnik GmbH in Alsfeld. HSP will have a 30 % stake in the joint venture.

With effect from July 1, 2003, the jointly owned company ThyssenKrupp Bautechnik GmbH will have exclusive marketing rights worldwide both to HSP’s sheet piling and mine support sections as well as to the sheet piling products manufactured by Peiner Träger GmbH (Peine), another Salzgitter Group company. The company will also be offering sheet piling and plant technology for port construction and other special civil engineering projects. Under the economic direction of ThyssenKrupp GfT the new enterprise is expected to generate annual sales of around € 200 million.

HSP Hoesch Spundwand und Profil GmbH is one of the world’s leading manufacturers of steel sheet piling, steel piles, mixed steel piling, bulb flats, mine supports and other special-purpose sections. In recent years following the acquisition of the company by Salzgitter AG, over € 40 million has been invested in introducing state of the art rolling technology at HSP’s plants.

In addition to Contractors’ Plant, ThyssenKrupp GfT Gesellschaft für Technik mbH also has divisions dedicated to Railway Equipment, Metallurgy and MinEnergy. With a workforce of around 450 the company generates annual sales of some € 1.3 billion.