ThyssenKrupp starts the restructuring of the springs and stabilizers in Germany
One of the largest industrial concerns in Germany, ThyssenKrupp AG decided to undertake extensive restructuring of their German units for the production of springs and stabilizers (Springs and Stabilizers). The concept of the restructuring will affect about 490 jobs in the cities Hagen and Olpe.
"the Restructuring of the two offices is inevitable and the right step to take your business from losses. In the current situation, the competitiveness of these two plants was causing issues. The price level in the respective product segments is too low and excess capacity in the market are too great. That's why we decided to combine the remaining production with the development in one place, and further optimize the organization," commented Dr. Karsten Kroos, CEO of the division automotive supplies ThyssenKrupp.
currently at the site in Olpe employs about 330 people. Still it made stabilizers for the automotive industry. By the end of 2021, existing projects should be processed and production will be stopped.
Springs are manufactured at the factory in Hagen for the automotive industry since 1925. It currently employs about 400 people. In the future, all the group's production facilities for the production of springs and stabilizers in Germany are United in Hagen. It will develop prototypes, to produce stabilizers for small series production of parts, and manufacture of springs for trucks and electric vehicles. The business concept will be revised into more automated production. By optimising production processes by the beginning of 2022 in Hagen will cut about 160 jobs.
a Division of springs and stabilizers ThyssenKrupp currently operates nine production sites in Germany, Hungary, Brazil, Mexico and China and employs around 3,400 people worldwide. The company is one of the leading suppliers and technical partners for the international automotive industry. The range of products and services includes materials, high tech components, and the systems and automated solutions for the automotive industry. The sale of ThyssenKrupp customers from the automotive industry in the 2018/19 financial year amounted to about 10.4 billion euros.