August 28, 2008

ThyssenKrupp Nirosta to focus on strategic product development

The supervisory board of ThyssenKrupp Nirosta has decided to expand its executive board to include a new strategic product development directorate with the aim of placing an even stronger focus on new materials, new finishes and new applications.

Dr Alfred Otto executive board member responsible for the sales directorate will take over this new function. Mr Karsten Lork currently chairman of the management board of ThyssenKrupp Stainless International, will assume the position of sales director on the executive board of ThyssenKrupp Nirosta effective from May 1st 2008.

The creation of this new executive board directorate will reposition the entire ThyssenKrupp Stainless group. In his new function, Dr Alfred Otto will be responsible for the company’s strategic product development and will coordinate these activities in all areas of the segment. In this way, the company will place an even stronger emphasis on product and applications development throughout the segment in response to increasingly demanding customer requirements and growing international competition.

ThyssenKrupp Nirosta, a subsidiary of ThyssenKrupp Stainless AG, is one of the world’s leading manufacturers of stainless flat products with a wide range of grades, sizes and finishes. ThyssenKrupp Stainless is the holding company for all the ThyssenKrupp Group’s activities in flat rolled stainless steel, nickel alloys and titanium. Its seven subsidiaries with plants in Germany, Italy, Mexico, China and the USA employ a total of 12,200 people.