thyssenkrupp is currently building one of the world's biggest production sites for steering technology in the Chinese city of Changzhou. A highly automated facility to manufacture steering components and complete electric steering systems is being constructed at the more than 150,000 square meter site and is scheduled to start supplying Chinese and international auto manufacturers in the coming year. thyssenkrupp is investing around 200 million euros in the first phase of the project. The plant will have an average production capacity of about four million electric power-assisted steering systems per year and will create roughly 800 new jobs in the coming years.

Dr. Karsten Kroos, CEO of thyssenkrupp's Components Technology business area: "We offer our customers the full range of electric steering systems - for lightweight cars, sedans, SUVs and vans. In this and last fiscal year we received orders worth around eight billion euros for this steering technology alone. On this basis we have been further expanding our production network in North America, Europe and Asia in recent months. The new facility in Changzhou will be the central production hub for our steering activities in China."

In the last three fiscal years thyssenkrupp has invested around 300 million euros in expanding the plant infrastructure of its components business in China. Components Technology supplies its products to customers around the world from the automotive, construction and wind energy sectors and currently operates eleven production sites in China alone.

END