The head of Thyssenkrupp has plotted a new course for the German industrial giant in China, with an emphasis on high-tech components and clean energy projects
Heinrich Hiesinger has transformed German industrial titan Thyssenkrupp AG, shifting it from its core base as one of the great global steel giants.
The 57-year-old chief executive officer has moved the company into high-tech components, elevators and industrial solutions, which cover clean energy projects.
Thyssenkrupp, which is based in Duisburg and Essen, currently has 670 subsidiaries worldwide.
In China, it has more than 30 plants and centers.
Overall, its workforce totals 156,000 and is spread across 80 countries and regions. Last year, its sales revenue was 39 billion euros ($42.57 billion).
Naturally, the growth sector for Thyssenkrupp is the automotive sector. Last year, China was by far the largest automotive market with 28 million cars manufactured here.
Right now, Thyssenkrupp is building one of the largest plants for steering technology in Changzhou, Jiangsu province and has just started construction for a new spring and stabilizers factory in Pinghu, Zhejiang province.
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