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ThyssenKrupp Steel Europe has completed the sale of its construction division to Kingspan Group, the steelmaker said on Tuesday September 11.
The contract was signed with Kingspan on August 8 and the sale has been approved by the supervisory bodies and the regulatory authorities in Germany and the Netherlands, according to ThyssenKrupp.
“The now-sold Construction Group of ThyssenKrupp Steel Europe is one of Europe’s biggest suppliers of lightweight steel construction elements for use in the walls, facades, roofs and floors of industrial buildings and in cold-room construction,” it said.
The business has plants in Germany, Austria, France, Belgium and Hungary, as well as international distribution companies.
It had sales of about €315 million ($402.7 million) in the year to March 31 2012.
The Kingspan Group has its HQ in Ireland and produces construction elements and insulating materials. It has just under 50 production sites worldwide.
Stacy Irish sirish@steelfirst.com