Steering systems, NSK and thyssenkrupp evaluate joint venture

NSK and thyssenkrupp have signed a memorandum of understanding (MoU) to explore a potential joint venture between NSK Steering and thyssenkrupp Automotive. Both companies will now enter an assessment phase before taking a decision on any future collaboration before the end of 2022.

The steering businesses of both companies are highly complementary and synergetic with regard to product competencies, geographic footprints and customer groups. NSK expects the combined capabilities will enable the joint venture to meet the broad and highly technological needs of global automotive customers. It will also allow the combined entity to compete more effectively in the global steering industry.

Saimon Nogami, executive senior vice president of NSK, said: “NSK Steering and thyssenkrupp Automotive share a similar customer-oriented culture and a commitment to excellence. The envisaged joint venture will enable us to deliver products and services packed with more value than ever before to our customers around the world”.

Martina Merz, CEO of thyssenkrupp, added: “Our clear goal is to lead all of our businesses to a top three position in the market. Where it makes technological and strategic sense, we are happy to do this with strong partners at our side. In the automotive business in particular, size and economies of scale are key factors for achieving success in global markets. We’re already in an excellent position today with our automotive businesses. A collaboration between our automotive segment and NSK Steering could help us to further strengthen and expand this position”.

Steering systems from NSK centre on innovative products such as lightweight and compact electric power steering (EPS), manual steering columns with adjustment capability and effective energy absorption features, and lightweight joints and shafts offering numerous integrated functions.

With the signed MoU, both companies agree on a non-binding assessment phase of the relevant businesses without any preconceived outcomes. A decision on a possible cooperation model will be taken by the end of the year.

Pictured: Martina Merz, CEO of thyssenkrupp AG, with Saimon Nogami, executive senior vice president of NSK Ltd, at the MoU signing.

Contenuti correlati

• 
  Anti-dumping on Chinese steel in the EU

  The European Commission imposed definitive antidumping duties on corrosion resistant steel coming from China. The initiative comes after an investigation that confirmed Chinese producers were dumping the product on the EU market, a finding that already led...
• 
  European industrial strategy with Cecimo

  Cecimo and other 124 European manufacturing associations launched a Joint-Declaration that calls European commission, the European Parliament and Competitiveness Council to define and implement an ambitious and coordinated European industrial strategy. During the first European Industry Day,...
• 
  Education in Europe by Cecimo

  Cecimo’s national associations, Ucimu in Italy, VDW in Germany and AFM in Spain, are setting up the initiative Metals – MachinE Tool ALliance for Skills, aimed to make relevant vocational education and training (VET) programmes aligned with...
• 
  Certified torque calibration from HBM

  HBM Test and Measurement completed the services offered by its calibration laboratory thanks to a torque calibration plant for torques in the range of 30 kN∙m up to 400 kN∙m, Dakks accredited compliant to ISO 17025 and...