oho #3 - The magazine of the Principality of Liechtenstein

oho#3
Steering systems for
the cars of the future
Over the course of the 75 years since its foundation, ThyssenKrupp Presta has developed into a
leading global supplier for the automotive industry. With some 2000 employees at its headquarters
in Liechtenstein, the company is the country’s biggest private employer. It aims to continue shaping
the future of the automotive industry with new technologies. Text: Stefan Lenherr
On 28 October the company Press- und
Stanzwerk AG, now known as
ThyssenKrupp Presta, will be marking the
75 th anniversary of its foundation. The
company is one of the industrial pioneers
that helped forge Liechtenstein’s economic
growth after the Second World War. To
this day, it is one of the country’s most
important employers. Yet Presta
experienced very difficult times as well.
The company initially produced
components for munitions, and later large
quantities of bolts. Towards the end of the
Second World War, however, orders
declined. In the 1960s there was even talk
of selling the business to the USA. A move
into the automotive sector saw the
company’s fortunes take a decided turn
for the better.
Employees of ThyssenKrupp Presta work
on new technologies for the automotive
industry in the Acoustics Hall at the
headquarters of the company in Eschen.
Photo: ThyssenKrupp-Presta
New trends present new opportunities
The company first developed a reputation
as a supplier for the automotive industry,
and then expanded and established
production facilities around the world.
ThyssenKrupp Presta experienced strong
growth in the year 2003, when it acquired
the steering business from Mercedes-Benz.
In one fell swoop, the workforce rose 1,700
and the company’s sales increased by a
substantial EUR 300 million. Presta has
continued to grow to this day. It is one of
the world’s leading manufacturers of
steering systems, and is the technology
leader in the field of solid forming. At its
headquarters in Eschen, as well as at its
company sites in Europe, North America
and South America as well as Asia, the
company currently has over 7,000
employees. Last year, these generated
sales of CHF 1.9 billion. It still has
considerable upside potential, as CEO
Guido Durrer explains: “As we are directly
dependent upon the automotive industry
and the respective markets, market
growth offers us significant growth
opportunities.” According to Durrer, in
technology terms the automotive industry
is set to shift increasingly in the direction
of autonomous driving and electrification.
This is where Durrer senses further
opportunities for growth. The business
will remain at the cutting edge of
developments. “In terms of steering
technologies, we are directly affected by
both trends. We will therefore be able to
profit from this technology shift.” The
company’s headquarters in the
Liechtenstein town of Eschen will play a
key role. “This is where the development
of future products takes place. The results
are then produced in the global production
network comprising 16 sites,” says Durrer.
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