20/07/2011: Gestamp Automocion, the international Group dedicated to the design, development and manufacture of metal components
and structural systems for the automotive industry, announces that the sale and purchase agreement between ThyssenKrupp and Gestamp Automocion for the transfer of the ThyssenKrupp Metal Forming companies, has become effective today. The acquisition has been cleared by the merger control authorities of the European Union.
Francisco Riberas, President and CEO of Gestamp Automocion, declared: "We have a lot of opportunities ahead of us. Combining our global manufacturing footprint, technological capabilities and our financial strength, the new Gestamp Group has become a strong player in the Auto Industry." The acquisition is another important step of Gestamp's growth path. Furthermore, the acquisition will strengthen Gestamp's operations in established countries such as Germany, the UK and France as well as in emerging markets like Turkey and China.
Tallent, the Metal Forming group subsidiary in the UK, will benefit from being part of an organization with a focus on the same core Body-in-White and Chassis businesses. "The teams are working closely together to drive the integration process. Leveraging revenue synergies and setting the base for accommodating future growth are key objectives of the integration", said Francisco Riberas.
Employing around 5,700 employees, ThyssenKrupp Metal Forming achieved sales of GBP 990m in the fiscal year of 2010. The group has production sites in Germany, France, UK, Spain, Poland, Turkey and China. Tallent contributed with GBP 305m in 2010.
Source Company Press Release(s)
Value GBP 990m (Targets 2010 revenue)
Stake Value N/A































