Following the acquisition by its German-based parent ThyssenKrupp Services AG of Apollo Metals Ltd., ThyssenKrupp Materials NA, Inc. said that it has become part of the first truly global aerospace service provider. Apollo Metals, based in the United Kingdom, provides high-grade production materials such as aluminum, stainless steel and other 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 Apollos largely European and Far Eastern operations with the ThyssenKrupp Materials aerospace service centers in the U.S. 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 with annual sales of $700 million.
"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," said Joachim Limberg, Vice Chairman of the Executive Board of ThyssenKrupp Services AG and CEO of ThyssenKrupp Materials NA.
Through its TKX Aerospace and TMX Aerospace Divisions, ThyssenKrupp Materials NA, will be able to provide access anywhere in the world to a network of dedicated service centers which offers a variety of products, local service and delivery, and comprehensive custom-tailored solutions, said the company.