ThyssenKrupp sells Elastomertechnik unit

Hamburg--ThyssenKrupp has sold its elastomertechnik machinery unit to L, Possehl & Co mbH. of Lübeck, Germany. The sale is retro-active to 1 October, 2004, subject to approval by the board of ThyssenKrupp and the relevant regulatory authorities.

Uwe Lüders, Chairman of Possehl's executive board said, “Elastomertechnik will form an independent division within the Possehl group. The company will be able to further consolidate its market position, while still maintaining its own identity. For Possehl, this promises a significant increase in our earning power.”

ThyssenKrupp Elastomertechnik is by far the world's largest supplier of machinery to the world's tyre and rubber industries. With around 1050 employees, the company achieved sales last year of approx. € 163 million. The company operates production locations in Hamburg-Harburg, Freudenberg, Belišce/Croatia and Topeka/USA.

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Press release from ThyssenKrupp

Press release from Possehl