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17 September 2002 Two Major Forces in Metal Cutting
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Two major organizations in manufacturing, Gildemeister Aktiengesellschaft and ThyssenKrupp Technologies AG, are examining the merits of combining their activities in metal cutting. Representatives of the two companies have agreed to examine a pooling of activities and then consider their next step. A link with ThyssenKrupp's machine tool business would give Gildemeister annual sales of about €1.8 billion.
Both sides assume ThyssenKrupp would become the largest single shareholder in Gildemeister, without taking control of the company. Together the two companies could offer a full range of products from standard machines to systems solutions on a worldwide basis.
For further information, contact:
Dr. Jürgen Claassen
ThyssenKrupp AG
E-mail: claassen@tk.thyssenkrupp.com
www.thyssenkrupp.com
Alfred Wewers
ThyssenKrupp Technologies AG
E-mail: wewers@tkt.thysskrupp.com
www.thyssenkrupp.com
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