The agreement signing ceremony of ThyssenKrupp’s spring and stabilizer bar project has been recently held in the development area. The municipal leaders Qi Hailong, Qian Yongbiao and Zhou Diming attended it.
ThyssenKrupp’s spring and stabilizer bar project Phase I in Pinghu has a registered capital of 15 million USD and a total investment of 45 million USD, and a covering area of 67.5 mu. This project is the third subsidiary company of ThyssenKrupp group in China. After Phase I was put into operation, it is expected to have an annual output of 3.8 million springs and 1.5 million stabilizer bars. By the end of the third year the sales revenue is expected to reach 310 million RMB and the annual profit is totaled up to 43 million RMB. It is known that ThyssenKrupp is the fifth largest industrial company in Germany and also a Fortune 500 company. It has 670 subsidiary companies, the sales volume of which amounts to 38 million Euro. The product range involves steel, auto technologies, machine production and etc.
By now, 15 Germany capital companies have settled in European (German) Industrial Park in Pinghu Economic Development Area. The total number of Fortune 500 investment projects has amounted to 19. The successful settlement of this project will further quicken the development of auto parts industry in Pinghu Economic Development Area, strengthen the comprehensive power of Germany industrial park and expand the brand impact of the area’s business attraction to Germany companies.