Hungarian thyssenkrupp acquires Ib Andresen Industri

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Hungarian thyssenkrupp Ferroglobus Kereskedelmi Zrt. acquired Győr-based Ib Andresen Industri Magyarország Kft. in its entirety through its own resources, taking over leadership on February 29, according to a press release issued today. The Hungarian Competition Authority (GVH) approved the transaction.

As a result of the acquisition, the company expects to further strengthen its automotive supplier position in the region by expanding its portfolio of manufactured products. 

The new company will operate under the name Materials Processing Hungary Kft., with an annual capacity of approximately 200,000 tons.

“The Hungarian automotive supplier sector is facing serious growth, and our sales network and product and services portfolio is perfectly suited to meet demands raised by this growth,” Zoltán Petró, CEO of thyssenkrupp, said.

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