ThyssenKrupp to Sell Car Parts Unit to Electra Partners - aftermarketNews

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.

From Agence France-Presse

BOCHUM, Germany — 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.

The transaction was still subject to regulatory approval, ThyssenKrupp said in a statement.

ThyssenKrupp Fahrzeugguss makes light-metal cast products (aluminium and magnesium) for international car makers. It has annual sales of approximately $398 million and employs a workforce of 1,700.

Copyright 2004 Agence France-Presse. All Rights Reserved.

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