Thyssenkrupp becomes the world’s largest forging company

Newly integrated business unit Forged Technologies reports positive results after one year Stable development in heavy commercial vehicles and in the construction machinery industry Presentation of product innovations at the Bauma 2019 in Munich

Photo: thyssenkrupp becomes the world's largest forging company

One year after the integration of thyssenkrupp’s forging activities under the roof of thyssenkrupp Forged Technologies, the new business unit is able to draw a positive balance. In the first financial year, sales increased to 1.3 billion euro. This makes thyssenkrupp Forged Technologies the largest forging company in the world. The forging group has a unique global footprint by operating more than 50 forging presses in 18 locations worldwide, including Germany, Italy, Bulgaria, the USA, Mexico, Brazil, India and China. The company specializes in the production of components and systems for the automotive, truck and construction machinery industries. Every third heavy commercial vehicle in the world is equipped with thyssenkrupp powertrain components. Every fifth chain-driven construction vehicle drives on thyssenkrupp forged undercarriage systems. The group currently employs around 8,000 people worldwide.

Dr. Alexander Becker, CEO of the Forged Technologies business unit at thyssenkrupp: “In the first year after the integration, we benefited above all from a positive development in heavy commercial vehicles. The biggest demand came from our customers in the USA and South America. But we also made gains in the OEM and spare parts business in the construction machinery segment. We were able to extend existing projects with our customers as well as to win new projects. Our total order intake was significantly higher than in the previous year.”

The most important customers of the business unit in the truck sector include companies such as Cummins, Daimler, Volkswagen, Volvo and DAF, as well as Chinese customers such as Weichei or Yuchai. In the construction sector, thyssenkrupp supplies construction machinery manufacturer such as Liebherr, John Deere, JCB, Bobcat and CNH and many others.

The integration measures themselves also contributed significantly to the increase in performance. For example, synergies in the high single-digit million euro range were achieved in purchasing, the improvement of supply chains and production processes, and the bundling of sales activities.

The company’s service and product offering includes technical trend and project analysis in the relevant customer industries. This is followed by the development of customer-specific product solutions including prototype development and tests under real conditions through to series production. Training and service offerings are also part of the range of services for customers in the construction machinery segment.

“Our most important value proposition is the customer-specific product development as well as the robustness and longevity of our products. In doing so, we rely on digitized simulation and test procedures in all development phases. As a result, we also have a unique database throughout the industry that enables us to secure cost benefits for our customers already in product development”, Becker continues.

Continuous process and design improvements lead to ever new product innovations that increase the availability of the machine park at the customer whose maintenance costs are reduced. For example, the company has developed new undercarriage systems for dozers and track conveyor systems for the mining industry that significantly increase the lifetime of the application, reducing service and maintenance costs by up to 30 percent. At the world’s largest trade fair for construction machinery, the Bauma 2019 in Munich, which takes place in April this year, these new products will be presented.

About thyssenkrupp Forged Technologies

The Forged Technologies business unit is part of the thyssenkrupp Group’s component business area, which generated sales of 7.9 billion euros with around 35,000 employees worldwide in the last fiscal year. Forged Technologies’ product portfolio includes forged and machined engines, transmission and suspension components, such as crankshafts, rotor shafts and connecting rods, as well as undercarriage systems and components like track chains, rollers, carrier rollers, idlers, drive sprockets and track shoes. This machinery and undercarriage equipment are mainly used in the raw materials, construction and agricultural sectors. In the course of the planned separation of the thyssenkrupp Group, Forged Technologies will, in the future, be part of the thyssenkrupp Materials division, which combines steel and stainless steel production, materials trading and steel-related processing.

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