German steelmaking and engineering group Thyssenkrupp has opened a new automotive components plant in Sibiu, Romania, in a EUR60 million ($68.21 million) investment, the company said Tuesday.
The new site in Sibiu will produce dampers for customers including Daimler, Jaguar Land Rover and Porsche, the company said in a statement.
Karsten Kroos, CEO of Thyssenkrupp’s automotive division, said this is an investment “not only in the targeted expansion of our European production network, but also in newly obtained customer projects and new technologies…We are in the process of industrializing an entirely new generation of dampers for highly automated intelligent chassis systems.”
Thyssenkrupp has been producing dampers in Sibiu since 1996. The new plant is an extension to the existing production site, it said.
The damper business is part of the group’s components division, which serves the automotive and machinery sectors. Its components technology business area had sales of EUR7.9 billion in fiscal year 2017/2018, it said.
Last week, Thyssenkrupp announced an investment of Eur50 million ($56.7 million) in a new automotive components plant in Hungary, as previously reported.
— Diana Kinch
