ThyssenKrupp is the result of a merger of two German steel companies,Thyssen AG founded in 1891 and Krupp founded in 1811. As early as the 1980s, the companies began negotiations on a merger and began closely cooperating in some business areas. In 1997, the companies combined their flat steel activities, with a full merger completed in March 1999.
ThyssenKrupp AG is a German multinational conglomerate corporation based in Duisburg and Essen, Germany. The corporation consists of 670 companies worldwide. While ThyssenKrupp is one of the world’s largest steel production, the company also provides components and systems for the automotive industry, elevators, escalators, material trading and industrial services. As of a 2009 reorganization, it is structured into eight business areas that fall under two major divisions, Materials and Technologies. The Materials division concentrates on carbon steel, stainless steel, and material services while the Technology Division concentrates on elevator, plant and components technology, and marine systems. The company is the result of the 1999 merger of Thyssen Grupp and Krupp, and now has its operational headquarters in Essen.
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