ThyssenKrupp Materials NA becomes part of global aerospace service center network following its parent's acquisition of Apollo Metals
ThyssenKrupp Materials NA, Inc. today announced that, following the acquisition by its German-based parent ThyssenKrupp Services AG of Apollo Metals Ltd. for an undisclosed amount, the company has become part of the first truly global aerospace service provider positioned to offer its aerospace customers products and supply chain services on a world-wide basis.
Apollo Metals, based in the United Kingdom, provides high-grade production materials such as aluminum, stainless steel and non-ferrous metals with value-adding processing services predominantly for aerospace manufacturers and their supply chains.
The acquisition, completed on January 11, 2008, will combine Apollo's largely European and Far Eastern operations with the ThyssenKrupp Materials aerospace service centers in the United States and Canada, as well as ThyssenKrupp Services' aerospace operations in Latin America and Europe to form a global enterprise with 30 locations in 13 countries and an annual turnover in excess of $700 million.
By becoming a member of this newly expanded global network, ThyssenKrupp Materials NA, through its TKX Aerospace and TMX Aerospace Divisions, will be in a unique position to respond to the global supply chain needs of its customers in North America. The company will be able to provide access anywhere in the world to a network of dedicated service centers which offer an unparalleled variety of products, superior reliability of supply from the world's leading metal producers, efficient local service and delivery, and comprehensive custom-tailored solutions to meet the needs of individual customers.
Joachim Limberg, Vice Chairman of the Executive Board of ThyssenKrupp Services AG and Chairman and CEO of ThyssenKrupp Materials NA, said: "The expansion of the aerospace business has a great strategic significance for us. With our supply chain management solutions, we already have a strong footing in the aerospace industry. This acquisition secures us worldwide access to all the major aircraft manufacturers and their key suppliers. This is a key milestone for us as an internationally recognized supplier of materials and services to the aerospace industry."
Richard J. Greaves, President and COO of ThyssenKrupp Materials NA added: "In working closer together with our existing ThyssenKrupp affiliates around the globe and in joining forces with Apollo Metals through this acquisition by our parent company, we see an unprecedented opportunity to further build on our leading position in North America to create the most competent and cost-effective aerospace service provider in the world, thereby ensuring we become our customer's supplier of choice no matter in which geographies they operate."
ThyssenKrupp Materials NA, Inc., www.tkmna.thyssenkrupp.com, headquartered in Southfield, Michigan, is a leading provider of production materials and integrated service solutions with over 3,000 employees and 80 locations in North America. With annual sales in excess of US$3.1 billion, the company is focused on value-added processing and distribution of a full line of aluminum, stainless, copper, brass, specialty metals, steel, and plastics products. Supply chain management, transportation and logistics, and production support outsourcing solutions are among the many services provided to customers. Business units include Copper and Brass Sales, AIN Plastics, Ken-Mac Metals, ThyssenKrupp Steel Services Distribution, ThyssenKrupp Steel Services Trading, TMX Aerospace, TKX Aerospace, ThyssenKrupp Industrial Services, and TKX Logistics.
ThyssenKrupp Material NA's TKX Aerospace Division, www.tkxaerospace.com, and TMX Aerospace Division, www.tmxaerospace.com, provide integrated supply chain programs for large aerospace manufacturers, including the coordination of purchasing, order management, storage, processing, kitting, sequencing, packaging and just in-time delivery of materials and aerospace components. TMX Aerospace provides exclusive supply chain management support for the Boeing Commercial Airplanes group, while TKX Aerospace is focused on growing global aerospace activities with other premier aerospace manufacturers.
ThyssenKrupp Services AG, www.thyssenkruppserv.com, the parent company of ThyssenKrupp Materials NA, is one of the five business segments of the ThyssenKrupp AG global industrial group, www.thyssenkrupp.com. With over 800 locations in 50 countries, ThyssenKrupp Services is among the world's leading providers of production materials and supply chain services for industrial customers. ThyssenKrupp Services employs approximately 43,000 and accounts for 16.7 billion Euros ($22.2 billion) of the global group sales. The ThyssenKrupp Group has annual sales of 51.7 billion Euros ($68.7 billion) and 191,350 employees in over 70 countries worldwide.
Apollo Metals Ltd., www.apollometals.com, was a public company from 1988 until 2000. It was acquired by the Murray Group in 2004 since when Apollo Metals has experienced dynamic growth as a premier metals service center focused on the aerospace industry. In the past 3 years the company has opened facilities in China and India and expanded its operations in the UK, Australia and continental Europe. It has 451 employees worldwide. Aviation Metals won Airbus supplier of the year awards in 2005 and 2006.
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