Companies

ThyssenKrupp to build $222.5m plant in China

(Agencies)
Updated: 2010-12-01 10:17

ThyssenKrupp AG, Germany's largest steelmaker, plans to build a 170 million-euro ($222.5 million) facility to make crankshafts for the automotive industry near Shanghai, Chief Executive Officer Ekkehard Schulz said.

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The company expects to sign contracts for the plant with Chinese authorities in December, Schulz said at a press conference at ThyssenKrupp's headquarters in Essen on Nov 30. He declined to comment on the potential output of the facility.