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ThyssenKrupp Budd Sells Plastics Ops to Continental Structural Plastics

ThyssenKrupp Budd Co. has sold its plastics materials manufacturing and molding operations to Continental Structural Plastics of Bingham Farms, MI. Sale price was not disclosed. Continental Structural Plastics, founded in 1982, manufactures structural plastic components, bumper beam reinforcements, rocker covers, oil pans, stamped steel seat frames and underbody shields. The company operates three manufacturing plants in Petoskey, MI; Sarepta, LA; and Conneaut, OH; in addition to its headquarters, sales and marketing office in Bingham Farms.

ThyssenKrupp Budd to Sell Aluminum Casting Unit

ThyssenKrupp Budd Co., a leading supplier to the automotive industry, has announced the sale of its aluminum castings operations as part of a restructuring plan announced earlier this year. ThyssenKrupp Stahl Co., a subsidiary which produces aluminum castings at foundries in Kingsville and Warrensburg, MO, has been sold to an equity-holding concern. The sale price was not disclosed. ThyssenKrupp Stahl employs 813 people.

ThyssenKrupp Budd Company Plans To Phase Out Detroit Plant

Automotive supplier ThyssenKrupp Budd Co. has announced plans to phase out its Detroit manufacturing plant. The plant makes metal stampings and assemblies such as roofs, doors, fenders, tailgates, liftgates and body side panels for cars, trucks and sport utility vehicles. In meetings with plant management and the United Auto Workers Local 306, company officials said the phase-out will begin within the next several weeks and final shutdown could be completed by the end of the year.

Thyssenkrupp CEO Denies Plans to Sell Automotive Ops

ThyssenKrupp AG is not planning to sell its automotive division, ThyssenKrupp Automotive AG, said CEO Ekkehard Schulz. Several media reports had earlier suggested that ThyssenKrupp was in talks to sell its U.S. automotive division.

ThyssenKrupp Higher on Report, May Sell Automotive Division

Shares in ThyssenKrupp AG rose sharply in early trade yesterday on the back of a report in the Wall Street Journal stating that the steel conglomerate is preparing for the potential sale of its automotive division, dealers said. The sale of ThyssenKrupp Automotive AG, which the Journal said was likely to bring in about $3.6 billion, would raise cash for Germany’s biggest steelmaker as it waits to see if it can buy Dofasco Inc of Canada for $4.6 billion.

ThyssenKrupp Mulls Closing Some of its U.S. Auto Operations

ThyssenKrupp AG chief executive Ekkehard Schulz said the steel conglomerate is mulling the closure of some of its U.S. Automotive operations, which are struggling as a result of the downtown in the world’s largest car market. Schulz said ThyssenKrupp would close some, without specifying which, operations “in a worst case” scenario.

ThyssenKruppp Questions Future of it US Car Parts Business

German industrial group ThyssenKruppp plans to restructure its struggling car parts business in the United States by either selling the unit or closing some operations, a spokesman for ThyssenKruppp Automotive said last week.

Thyssenkrupp’s Auto Arm Plans Job Cuts

ThyssenKrupp AG’s automotive arm plans to cut jobs, Financial Times Deutschland (FTD) reported Wednesday, citing a company spokesman.

ThyssenKrupp to Sell Car Parts Unit to Electra Partners

German heavy industry giant ThyssenKrupp said Thursday its ThyssenKrupp Automotive division had sold a car parts unit, ThyssenKrupp Fahrzeugguss, to British private equity firm Electra Partners. Financial details were not disclosed, but the daily Frankfurter Allgemeine Zeitung put the price at some $198 million.

ThyssenKrupp, Sumitomo in Chinese Joint Venture

ThyssenKrupp Automotive, the car parts maker of German heavy industry giant ThyssenKrupp, has entered into a joint venture agreement with Japanese companies Sumitomo Metals Industries and Sumitomo Corporation.