ThyssenKrupp

List of News and Information about ThyssenKrupp on 4WheelsNews.com

News and Information about ThyssenKrupp

Read the latest news and information about ThyssenKrupp published on 4WheelsNews.com! View comments and pictures about ThyssenKrupp on 4WheelsNews.com!

You also might be interested:

ThyssenKrupp sells its Waupaca foundry unit to KPS Capital Partners

An agreement has been made for KPS Capital Partners, a New York private-equity firm, to buy the Waupaca foundry unit from auto supplier ThyssenKrupp AG. It’s expected that the sale will be finalized in the second quarter. Waupaca Foundry Inc. would then be the new name of ThyssenKrupp Waupaca. The terms of the deal were not announced.

ThyssenKrupp Waupaca, the largest independent iron foundry in the world, makes gray and ductile iron castings for the auto and commercial truck industries and other producers. It owns three facilities located in Waupaca, Wis., and in Marinette, Wis. It has other plants in Tell City, Ind., and Etowah, Tenn., with a workforce of around 3,500 employees.

In the last fiscal year, it reported sales of $1.48 billion. In a statement, ThyssenKrupp Waupaca CEO Gary Gigante said that KPS was picked out as a buyer since it will permit the foundry to continue its business without being interfered with. Gigante said that the company wanted the next owner of Waupaca to be as committed to its future as it was. It also hoped that right after the deal is finalized, it would be “business as usual” for its workers and customers.

Read the entire article ThyssenKrupp sells its Waupaca foundry unit to KPS Capital Partners