Press report, 10-01-2007
ThyssenKrupp VDM USA Announces Merger with Precision Rolled Products
florham park, new jersey [October 1, 2007] – ThyssenKrupp VDM USA, Inc., of Florham Park, New Jersey, today announced the merger with its sister company Precision Rolled Products, Inc., also based in Florham Park. The merged corporation will retain the name of ThyssenKrupp VDM USA, Inc., and combine the sales and business support teams of both companies. The new organization employs 222 at its headquarters, its two production sites in Florham Park and Reno, Nevada and its sales and technical support offices throughout the United States. No lay-offs are expected as a result of this merger.
“As one company with one mission and one team, we can utilize our resources more effectively for future growth and profitability. The merger with Precision Rolled Products will result in even better customer service by optimizing between capabilities to supply certain products manufactured in the U.S. and extensive production resources in Germany” said Joe Fuhrman, President and Chief Executive Officer of ThyssenKrupp VDM USA, Inc. “We remain committed to providing the highest level of customer service” Fuhrman added.
The predecessor company Precision Rolled Products, Inc., is an approved super alloy producer and supplier to most of the world’s leading aircraft gas turbine and airframe manufacturers as well as their subcontractors. Its materials are used in a variety of engine components ranging from fasteners to fan blades. The Florham Park operation melts and forms super alloys, primarily nickel and cobalt, to ensure high purity and precise chemistry. Operations at the second production site in Reno, Nevada include hot rolling of super alloys and titanium, cold drawing and finishing.
ThyssenKrupp VDM USA, Inc., is also the sales and distribution arm of the ThyssenKrupp VDM Group, a leading international supplier of high-performance nickel alloys, cobalt alloys and special stainless steels. The Group, based in Werdohl, Germany, supplies these products in the form of sheet, strip, bar and wire to its customers in the oil, gas, chemical process industry, aerospace, automotive and electronics industries.
The ThyssenKrupp Group, based in Duesseldorf, Germany, is a global technology company which consists of five business segments – Steel, Stainless, Technologies, Elevator and Services. The company has annual sales of approximately €47 billion (US$61 billion) and employs 188,000 employees in over 70 countries worldwide.
ThyssenKrupp VDM USA, Inc. and ThyssenKrupp VDM are part of the ThyssenKrupp Stainless segment. Based in Duisburg, Germany, this business segment unites all of ThyssenKrupp’s activities in the areas of stainless steel flat-rolled products, nickel alloys and titanium. Thanks to its innovation potential, the ThyssenKrupp Stainless has achieved leading market positions worldwide. The segment has annual sales of €6.4 billion (US$8.3 billion) and 12,200 employees around the globe. Operating companies include German-based ThyssenKrupp Nirosta, Italy’s ThyssenKrupp Acciai Speciali Terni, ThyssenKrupp Mexinox in Mexico, Shanghai Krupp Stainless in China and ThyssenKrupp VDM. ThyssenKrupp Stainless International is responsible for all stainless sales, distribution and service activities of the Stainless segment where these are not directly allocated to the production companies. The Stainless segment serves global customers in the appliance, electronics, automotive and aerospace industries.
ThyssenKrupp operations can be found in every state in the U.S. There are 70 ThyssenKrupp companies in more than 400 locations accounting for 25,000 employees and more than US$9.7 billion in annual sales. Through its predecessor companies, ThyssenKrupp has been part of the U.S. historical landscape for 170 years, dating back to 1837 when Alfred Krupp, founder of predecessor company Krupp, provided coin minting machine prototypes to the U.S.
Contact person
ThyssenKrupp Stainless AG
Erik Walner
Press Officer
Phone: +49 (0) 203 52 45 130
Fax: +49 (0) 203 52 45 132
E-Mail: erik.walner@thyssenkrupp.com
Kontakt
ThyssenKrupp USA, Inc.
Christian Koenig
Public and Government Affairs
Telefon: +1 (248) 643-3512
Telefax: Fax: + 1 (248) 643-3518