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Jul 12, 2017 7:02 AM

Volkswagen honors thyssenkrupp with award for outstanding product launches

- Volkswagen Group Award 2017 in the “Global Champion” category goes to thyssenkrupp’s steering business

thyssenkrupp has been honored by automaker Volkswagen with its “Volkswagen Group Award 2017”. The prize in the “Global Champion” category went to thyssenkrupp’s steering business in recognition of successful product launches and the construction of new plants in China and Mexico. It also acknowledges thyssenkrupp’s global localization approach and its successful management of complex projects for Volkswagen and Audi. The Volkswagen award is one of the highest accolades for suppliers in the automotive sector.

Dr. Karsten Kroos, CEO of thyssenkrupp’s components division, accepted the prize in Berlin: “This award is a great recognition for our company and our employees around the globe. We are very proud of our long-standing partnership with the Volkswagen Group. "

thyssenkrupp has been a strategic partner on Volkswagen’s FAST program since 2015. The Volkswagen group is one of thyssenkrupp’s most important customers in the auto industry. For several decades the components division has been supplying the carmaker with chassis and powertrain components like springs, stabilizers, crankshafts and camshafts. Furthermore, thyssenkrupp is an assembly partner of the Volkswagen Group at locations in North America. thyssenkrupp’s steering business has been manufacturing steering columns, steering shafts and individual cold-forged components for virtually all Volkswagen models since the early 1990s. For the VW Up thyssenkrupp also produces mechanical steering gears in Europe and Brazil.

In its steering business thyssenkrupp employs around 8,000 people at 16 production and development sites in eleven countries on four continents. Each year it produces and develops products for more than 20 million vehicles. thyssenkrupp is world market leader in the manufacture of steering shafts and steering columns. The company is currently expanding its business with electric power assist steering systems on the basis of numerous major orders and developing innovative steering technologies for autonomous vehicles.

thyssenkrupp in the automotive industry

thyssenkrupp is one of the world’s leading suppliers of materials and components to the auto industry. Nine out of ten premium class cars are fitted with components made by the company. One in three trucks feature drive components from thyssenkrupp. In the 2015/2016 fiscal year thyssenkrupp’s sales in the automotive sector came to around 9.8 billion euros. Customers include practically all the big auto manufacturers.

thyssenkrupp Components Technology business area

Employing around 30,000 people thyssenkrupp’s Components Technology business area produces high-tech components worldwide for the automotive and machinery sectors. In the auto sector the product range includes assembled camshafts, cylinder head modules with integrated camshafts, crankshafts, steering and damping systems, springs and stabilizers as well as the assembly of axle modules. In the machinery sector thyssenkrupp supplies components for construction equipment, wind turbines and numerous general engineering applications. In fiscal year 2015/2016 the Components Technology business area achieved sales of 6.8 billion euros.