ThyssenKrupp sets up two facilities in China

Germany-based ThyssenKrupp AG has announced the opening of two new manufacturing facilities in Changzhou National Hi-Tech District (CND), China, a joint venture project with Chinese auto parts manufacturer Fawer Automotive Parts Ltd. and the company's phase 3 camshaft production facility.

In response to the fast growth of the Chinese automobile market, the company set up ThyssenKrupp Engine Systems (Changzhou) Co. Ltd., a manufacturer of assembled automotive camshafts, in October 2012 and increased its total investment in the subsidiary in May 2015. The company then set up ThyssenKrupp Steering System (Changzhou) Co. Ltd., a producer of electric power steering systems, in February 2015 and expanded the scope of the subsidiary with additional investment in September 2016.