TK buys Hungarian service center to target automotive sector

Germany’s ThyssenKrupp Materials Services has acquired Hungarian steel service center IAI Holding A/S from Danish service center group Ib Andresen Industri, ThyssenKrupp (TK) said in a press release Tuesday.

The deal, concluded on February 29, is aimed at strengthening TK’s activities in Eastern Europe.

The service center will now work closely with the German steelmaker on future steel supplies.

“We are confident that the Hungarian automotive supply sector offers major growth potential and that our good distribution network will enable us to expand our activities,” said Marcus Wöhl, ceo of TK Materials Processing Europe.

The newly-bought plant, renamed ThyssenKrupp Materials Processing Hungary, is located in the city of Györ close to the border with Slovakia and Austria and in the proximity of numerous automotive plants in central Europe including Audi, Suzuki, Opel, Fiat, Skoda and the planned Jaguar Land Rover plant in Slovakia.

The service center, employing 50 people, specialises in steel coil, cut-to-length and slitting services. In addition to steel it processes aluminium and stainless steel for automotive use.

The plant has two coil slitting lines. It cuts material 0.3-5mm thick and maximum 1,850mm wide with a maximum coil weight of 32 metric tons. Its cut-to-length line can process coils of 0.5-5mm.

The production capacity is 300,000 mt/year and the plant’s warehouse can store up to 2,100 coils.

Wojtek Laskowski, PLATTS