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2.1 Management report on the Group Profile Profi le and and strategy The sale of treasury stock in in July 2011 resulted in a cash inflow infl ow of €1.6 billion. – We have found a best owner for the Xervon group in REMONDIS, a service company focused on water and recycling services. Xervon provides technical services for the erection and maintenance of industrial plants around the world and is therefore an excellent fit for the REMONDIS portfolio. The sale and purchase agreement was signed in the final quarter of the reporting year; the closing will follow after approval by the responsible merger authorities. The approval of the EU competition authority has already been received. Altrad S.A. of France purchased Xervon’s Spanish subsidiary back in October 2010. This took Materials Services a major step forward in restructuring its industrial services business. – The sale of the Metal Forming group to the Spanish automotive supplier Gestamp Automoción was completed in July 2011 after the approval of the EU competition authorities. The group, which manufactures high-quality chassis and body parts, was no longer part of the core business of Steel Europe. In addition it is planned to sell ThyssenKrupp Tailored Blanks. – Under the new strategic framework we will also combine the chassis operations of the Bilstein group and Presta Steering, and divest the spring and stabilizer business and the Brazilian Automotive System operation as part of a best-owner solution. The management structure for the new entity formed from Bilstein and Presta Steering has already been decided. The combination creates one of the world’s biggest chassis full-service providers with a global footprint. With its damping and steering expertise it will be better able to meet customer demands for modern chassis systems. We also plan to divest the US foundry group Waupaca. – In September and October 2011 Elevator Technology acquired all the operations of two US companies: General Elevator Sales and Services, Inc. in Florida, and United Elevator Company, Inc. in Pennsylvania. Both companies specialize in elevator service, maintenance and modernization and have been operating successfully on the American market for decades. This consolidates the already strong position of ThyssenKrupp Elevator in North America and sets us on course for further growth in this region. We strengthened our market position in Europe with further acquisitions in the Benelux countries and in Spain, Italy and France. – In a further step, ThyssenKrupp sold treasury shares equivalent to 9.6% of the capital stock at the beginning of July 2011. We sold 49,484,842 shares at a price of €32.95 per share, resulting in a cash inflow of €1.6 billion. The shares were placed mainly with German and international institutional investors in an accelerated bookbuilding. The transaction strengthened equity and reduced net financial debt. ThyssenKrupp AG now no longer holds any treasury shares. – The strategy is supported by a new Group mission statement. Over 1,300 employees from all business areas worked on its development – among other things in workshops in the USA, Canada, Brazil, Spain, China, Hong Kong, Dubai, India, South Africa and Germany. As a new “corporate constitution” the mission statement creates a common roof for all the Group’s employees. It requires and promotes more transparency, openness and teamwork in our operating culture. Highest standards and common values such as reliability, integrity and responsibility determine our actions. We are a materials and technology company and meet the challenges of the future with our customers. 52
Management report on the Group 2.1 Management report on the Group Profile and strategy A A name as a signal – impact includes the the words words “act” for action and “pact” in in the the sense sense of an alliance of knowledge and skills. skills. Corporate program impact 52 | 53 To implement the Strategic Way Forward with the active involvement of our employees, we launched the corporate program impact. impact has the aim of creating sustainable value in the Group. We want to achieve profitable growth in our businesses and markets while securing competitiveness, profitability and capital efficiency. For this, we have defined four initiatives, addressing the following key themes: – Customers & Markets Strengthening customer understanding, implementing market opportunities, developing regional and growth markets – People & Development Developing skills and potential, and using them optimally – Performance & Portfolio Improving efficiency and quality, optimizing the portfolio, increasing earning power – Innovation & Technology Expanding technological expertise, improving innovation management, strengthening competitiveness Corporate program impact Transparency Customers & Markets Market know-how Regional development & growth markets Customer and service focus Account management & cross-selling Focused IP strategy Leading technology positions New materials and products New innovation fi elds Innovative tools in engineering & service Innovation & Technology Leadership & Culture Sustainable value creation Performance & Portfolio Continuous benchmarking Cost and complexity reduction Improved capital effi ciency Process excellence Portfolio optimization Business opportunities for ThyssenKrupp: Diff erentiation with solutions People & Development Three enabling enabling themes support the initiatives and define the framework for our business actions. They are: – Transparency The management of the ThyssenKrupp ThyssenKrupp Group should be based on uniform performance indicators, understandable for all. This also applies to the impact program program as as a a whole: It is part of operational budget planning; progress is monitored monthly. Responsibility
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Annual Report 2010/2011 At the cent
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Engineering

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