China’s Wuhan Iron Picks Up ThyssenKrupp Auto Steel Unit

Law360, New York (September 28, 2012, 6:31 PM EDT) -- Wuhan Iron and Steel Group Corp. on Friday inked a deal for ThyssenKrupp AG’s niche automobile steel division, making the Chinese buyer the world’s biggest producer of tailored blanks, laser-welded steel sheets that can be formed into different car parts.

The acquisition gives WISCO control of ThyssenKrupp Tailored Blanks Group, which last year posted €700 million ($900 million) in sales and controlled approximately 40 percent of the global market share in tailored blanks, according to parallel statements from the parties.

“WISCO is optimistic about the global...
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