2010-12-01 10:17

ThyssenKrupp AG, Germany's largest steelmaker, plans to build a 170 million-euro ($222.5 million) facility to make crankshafts for the automotive industry near Shanghai, Chief Executive Officer Ekkehard Schulz said.

The company expects to sign contracts for the plant with Chinese authorities in December, Schulz said at a press conference at ThyssenKrupp's headquarters in Essen on Nov 30. He declined to comment on the potential output of the facility.