Germany’s largest steelmaker, Ekkehard Schulz, CEO of ThyssenKrupp said the company planed to invest 170 million euros (about $ 222.5 million) in Shanghai for the production of crankshafts for the automotive industry.
Ekkehard Schulz, said in a news conference recently held in Essen, Germany, headquarter of Thyssen Krupp ThyssenKrupp that they agreed on setting new factories with the Chinese authorities in December. Thyssen Krupp’s products is currently involved in iron and steel, automotive technology, machine manufacturing, engineering and trade and other fields.
Source: China Foundry Association (CFA)
Edited and Translated by Liu Jie