You are using Internet Explorer 11 or earlier, this browser is no longer supported by this website. We suggest to use a modern browser.

Oct 28, 2021 9:31 AM

thyssenkrupp's steering business celebrates its 80th anniversary

  • Successful transformation into a high-tech company and global player in the steering business

  • Turnover more than doubled in the past ten years

  • On-trend topics of electric mobility, autonomous driving and sustainability will enable further growth

thyssenkrupp Presta AG, one of the world's largest suppliers of steering systems for the automotive industry, is celebrating its 80th anniversary today. The focus has been on the company's successful development over the past decades into a high-tech company with significant software and digitalization expertise.

Dr. Karsten Kroos, CEO of the Automotive business at thyssenkrupp, praised the positive performance of the biggest single business in thyssenkrupp's automotive segment: "Transformation capability is probably the most important success factor for thyssenkrupp Presta. In the last twenty years alone, the company has anticipated and helped shape many of today's ubiquitous trends in the automotive industry. Whether concepts for lightweight construction and CO2 mitigation in the chassis area, integration of electronics and software into the product range or digitalization of global production: with this capability profile, thyssenkrupp Presta has developed into a high-tech company and global player in the steering business."

As one of the leading suppliers of steering components, steering gears and complete electromechanical steering systems, the company is currently benefiting from the trend towards electric mobility as well as from automated and autonomous driving. An ultra-modern production network that has been expanded worldwide in recent years enables vehicle platforms of almost all well-known international OEMs to be supplied. The product range of the Steering business unit is completely independent of the type of vehicle powertrain. At the same time, the company's electric steering systems are an essential prerequisite for almost all modern driver assistance systems and help reduce emissions during driving by consuming less energy. The company's next technological step is what are referred to as steer-by-wire solutions. These are steering systems that do not require a continuous mechanical connection between the steering wheel and the road wheels. The steering command is transmitted purely electrically, as in aircraft. Steering by data cable allows completely new vehicle architectures to be designed, as well as leading to greater standardization in vehicle construction and shorter development times.

Michael Drolshagen, CEO of the steering business at thyssenkrupp: "We are using today's anniversary as an opportunity to take stock of where we stand, and can proudly say that we are optimally positioned to participate in the fundamental change within the automotive industry with our capabilities and products. We are benefiting from the trends in electric mobility, autonomous driving and sustainability and can thus continue on our chosen growth path."

For thyssenkrupp Presta, the last ten years have been characterized by continuous growth and expansion of its production network, above all in China, North America and Eastern Europe. This has been accompanied by the expansion of the customer portfolio, especially in the growth regions. The company's turnover has more than doubled in the last ten years thanks to the expansion of the product range and new customer projects. Today, the company produces steering components and systems for more than 20 million vehicles annually. The global business is managed from Eschen in the Principality of Liechtenstein. With around 2400 employees, thyssenkrupp Presta is the country's biggest employer. Worldwide, the company employs around 10,000 people at 21 production, sales and development sites in eleven countries on four continents.

History of thyssenkrupp Presta AG

The company named Press- und Stanzwerk AG was founded in Eschen in 1941, and in the early years produced mainly ammunition components and screws. In the early 1960s, the company expanded its product portfolio and entered the automotive components business. This was followed by a gradual development from a producer of small extruded parts to steering columns, steering gears and complete steering systems. Presta AG has been part of the thyssenkrupp Group since 1991.

thyssenkrupp in the automotive industry

thyssenkrupp is one of the leading suppliers and engineering partners to the international auto industry. Its products and services include materials, high-tech components and system and automation solutions for automotive OEMs. In fiscal year 2019/20 thyssenkrupp achieved sales of around 8.6 billion euros with customers from the auto industry. Around 4.7 billion euros of these sales were generated by Automotive Technology, the thyssenkrupp group’s component supply division.