As part of its strategic goal to focus on its flat steel business, ThyssenKrupp Steel AG is to sell its wholly-owned subsidiary Thyssen Schienen Technik GmbH of Duisburg, to Voest-Alpine Schienen of Leoben, Austria.
The transaction is subject to approval by the EU Commission.
Thyssen Schienen Technik GmbH was created in 1997 when the rail/steel sections business of Thyssen Stahl AG was hived off into an independent company.
Since then, it has concentrated on the manufacture and distribution of rails as well as services related to rail systems. In 2000/2001, the company is expected to reach sales of euro120 million.
Voest-Alpine Schienen GmbH is a wholly-owned subsidiary of Voest-Alpine Stahl AG. With its production site in Leoben/Austria, it is one of Europe`s leading rail producers. Shipments in 2000/2001 (March 31) reached around 310,000 tonnes, with sales around euro190 million.
VAS will acquire all of Thyssen Schienen Technik GmbH`s shares and continue to do business at the current site in Duisburg.