ThyssenKrupp is a multinational conglomerate formed in 1999 from the merger of Thyssen AG and Krupp. It is a major steel producer and operates in various sectors including machinery, trains, elevators, and shipbuilding. The company has over 670 subsidiaries worldwide.
August Thyssen-Hütte-AG acquires a stake in the Rasselstein Steel and Rolling Mill, which was founded in 1760, giving Thyssen access to the market for surface-finished blackplate.
Friedrich Krupp established a company on November 20, 1811, to produce cast steel according to English quality standards.
Friedrich Krupp dies in 1826, leaving his widow Therese to continue managing the company until 1848.
August Thyssen is born on May 17, 1842 in Eschweiler near Aachen to a wealthy catholic family of entrepreneurs. He receives a good technical and commercial education and goes on to establish Thyssen & Co, an iron strip rolling mill in Styrum near Mülheim an der Ruhr.
In 1847, the expansion of railroads led to a higher need for strong cast steel products such as axles, springs, and seamless tires that could withstand high speeds without breaking. This surge in demand marked a significant period of growth for the company.
In 1848, Alfred Krupp takes over as the sole proprietor of the company, marking a significant point in the company's history.
Jacob Mayer, co-founder of the Bochum Association of Mining and Cast Steel Fabrication, invented steel casting, allowing products to be created from liquid steel in their final shape.
In 1852, Krupp invented the seamless forged and rolled railroad tire, a groundbreaking invention that became a worldwide bestseller and contributed to the mobility revolution.
In 1859, the Prussian military placed an order for 300 gun barrels from Krupp, which signaled the company's entry into the production of artillery. This marked a major development in Krupp's production capabilities.
The company's history began with the founding of thyssenkrupp rothe erde in 1861.
In 1862, the first Bessemer steel plant was constructed on the continent, enabling mass production of rails and steel sheets. This technological advancement revolutionized the steel industry.
In 1867, Thyssen, Fossoul & Co. was established as a company specializing in the production of hoop iron used for barrels, crates, and baling. This marked the beginning of Thyssen's presence in the iron industry.
In 1871, August Thyssen establishes Thyssen & Company, an iron strip rolling mill, with his father in Mülheim/Ruhr. This marks the beginning of the Thyssen industrial empire.
In 1872, Alfred Krupp issued a 'General Directive' that established the company hierarchy and introduced various welfare programs for employees, including pension funds, insurance benefits, worker housing estates, and health care. These initiatives aimed to improve the well-being of the workforce.
Fritz Thyssen, the eldest son of August Thyssen and Hedwig Pelzer, is born on November 9, 1873. He later becomes involved in the management of the Thyssen iron and steel mill, modernizing and rationalizing the operations.
Alfred Krupp, the talented businessman who led the company to growth, dies in 1887.
August Thyssen acquires all shares of the Gewerkschaft Deutscher Kaiser trade union in Bruckhausen near (Duisburg-)Hamborn, leading to the expansion of the trade union into a metallurgical plant with its own coal base. The foundation of the Thyssen Group is marked by the first steel tapping in the Siemens-Martin steelworks.
In 1892, Friedrich Alfred Krupp incorporates the Gruson Works in Magdeburg, laying the foundation stone for Krupp plant construction.
In 1893, Friedrich Alfred Krupp expanded his father's enterprise following Alfred Krupp's death in 1887. The expansion included takeovers of steel mills and shipyards, as well as collaboration in diesel engine production with Rudolf Diesel, marking a new phase of growth for the company.
Thyssen establishes an integrated iron and steel mill with the construction of a blast furnace plant at the Gewerkschaft Deutscher Kaiser, marking the beginning of vertical integration for the group.
In 1896, Friedrich Alfred Krupp takes over the Germania shipyard in Kiel, expanding the company's access to shipbuilding.
In 1897, Friedrich Alfred Krupp expands the pig iron and steel base of the Group with the integrated metallurgical plant in Rheinhausen.
Various coal mines including Hannibal colliery near Bochum and the Emscher-Lippe coal mine near Datteln are acquired or invested in, leading to a focus on vertical structures and the expansion of a coal base.
Against his father's wishes, Fritz Thyssen marries Amélie Zurhelle, daughter of a factory owner from Mülheim am Rhein, in 1900. They have a daughter named Anita in 1909.
In 1902, August Thyssen establishes the Aktiengesellschaft für Hüttenbetrieb in Duisburg-Meiderich to cover the pig iron requirements of his steelworks, later transformed into a landscape park.
Friedrich Alfred Krupp passes away suddenly in 1902, leading to his eldest daughter Bertha Krupp inheriting the company. The company is converted into a stock corporation with Bertha's mother, Margarethe Krupp, taking over as the head of the company.
Bertha Krupp marries Gustav von Bohlen und Halbach, who becomes vice-chairman of the board and later serves as chairman. The company undergoes significant leadership changes.
In 1907, Hoesch acquires the plant in Hohenlimburg.
Thyssen expands its operations with mills in the Lorraine and Normandy regions, further strengthening its presence in the iron and steel industry.
Stainless, acid-resistant steels are developed and find applications in various industries including chemical, food processing, medicine, and building. The Chrysler Building in New York features the new stainless steel panels.
The German Overseas Trading Company is established with a focus on Latin America. Thyssen builds housing estates and infrastructure in the western Ruhr area to attract workers, owning 8,750 housing units by the end of the year.
Gewerkschaft Deutscher Kaiser starts manufacturing armaments for the First World War, employing women, Belgian civilians, and prisoners of war to address labor shortages.
The 'Paris Gun' is developed with an impressive range of 130 km (80 mi), showcasing advancements in artillery technology during World War I.
In 1919, the company Gewerkschaft Deutscher Kaiser was renamed to August Thyssen-Hütte. Additionally, Gewerkschaft and mining operations were transferred to an independent company, Gewerkschaft Friedrich Thyssen.
The tinplate plant in Andernach started production in 1921.
August Thyssen passes away on April 4, 1926 at Schloss Landsberg near Essen. He was known for perfecting the concept of the vertically integrated corporation and expanding his industrial empire internationally.
During the era of National Socialism, there was war destruction and dismantling of August Thyssen-Hütte, showcasing the impact of political changes on industrial operations.
In 1934, the company August Thyssen-Hütte AG was spun off from Vereinigte Stahlwerke AG as an operating company. This move aimed to reorganize the structure of the Thyssen group.
Fritz Thyssen, chairman of the Board of Vereingte Stahlwerke AG, escapes to Switzerland following the invasion of Poland. He and his wife are later handed over to the German Reich by Vichy France in 1940.
The Thyssenhütte mill in Hamborn is seized by US troops in 1945.
Heinrich Thyssen-Bornemisza, who was successful in business and renowned as an art collector, dies in 1947.
In 1949, the family company Karl Jüngel GmbH & Co. KG was founded in Cologne-Mülheim, which later evolved into one of Germany's first service centers.
In 1953, August Thyssen-Hütte AG is re-established after being removed from the Vereinigte Stahlwerke AG Group as part of the breakup of the West German coal, iron and steel industry.
Chancellor Konrad Adenauer's presence at the event ensures extensive coverage in the media. The hot strip mill marks a significant development in the post-World War II industrial landscape of Germany, particularly benefiting Thyssen-Hütte with new opportunities in sheet steel production.
Deutsche Edelstahlwerke AG in Krefeld introduces the first Sendzimir rolling mill for cold rolling stainless steel in Germany. This innovation, pioneered by Tadeusz Sendzimir, revolutionizes cold-rolled steel production with its unique roller arrangement.
Thyssen makes a strategic move by acquiring a stake in Rasselstein, further expanding its presence in the steel industry. This acquisition signifies Thyssen's commitment to growth and diversification.
Thyssenkrupp Materials Processing Europe GmbH was established in 1960. It has been a symbol of premium quality and perfect service, showcasing continuous growth and corporate success over the past six decades.
In 1961, Krupp Hüttenwerk Rheinhausen is established, marking a significant development in the steel industry during that period.
During a press tour in 1963, Technical Director Alfred Michel highlights the architectural design of the steelworks, emphasizing that it can be attractive and visually pleasing while being embedded in landscaped grounds.
In 1965, the Rheinhausen steelworks merged with the Bochum Association for Cast Steel Fabrication to form the Hütten- und Bergwerke Rheinhausen AG, providing Krupp with a strong stainless steel base.
The Beeckerwerth factory, built by August Thyssen-Hütte AG, is awarded the gold medal at the “Industry in the Landscape” national competition in 1971 for its emphasis on external and architectural design, particularly along the River Rhine.
In 1972, Krupp undertook the construction of the steel mesh roof for the Olympic Stadium in Munich, showcasing its expertise in steel engineering.
On February 5, 1973, the blast furnace plant Schwelgern I in Duisburg was commissioned, marking a significant event in the steel industry.
Federal President Walter Scheel inaugurated the new training center at Thyssen AG, formerly August Thyssen-Hütte in Duisburg-Hamborn. The center aimed to provide specialized training for the workforce.
Thyssen AG expands into the North American automotive industry by acquiring Budd's automotive operations in 1978, establishing ThyssenKrupp Budd Incorporated.
Krupp Stahl AG was established in 1980 under the umbrella of ThyssenKrupp. The company shifted its focus from ordinary low-carbon steel to quality and stainless steels due to the steel crisis and competition for subsidies in the European Community.
Thyssen Stahl introduces tailored blanks, which are individual sheets of varying thicknesses, coating, or steel quality welded together to create components with ultra high strength, reducing car weight and fuel consumption. This innovation revolutionizes the automotive industry.
ThyssenKrupp acquires German shock absorber manufacturer Bilstein in 1988, initially as a division before it becomes a wholly owned subsidiary in 2005.
In 1989, ThyssenKrupp achieved internationalization milestones with the integration of a 50% interest in Thyssen Ros Casares, expanding its global presence.
In 1991, ThyssenKrupp expands its portfolio by acquiring German company Hoesch AG.
Fried. Krupp AG merges with Hoesch AG in 1992 to form Fried. Krupp AG Hoesch-Krupp, consolidating their operations and resources.
The second blast furnace in Schwelgern was commissioned with a hearth diameter of almost 15 meters, surpassing the size of the 'Black Giant' from 1973. The two blast furnaces in Schwelgern achieved a high capacity of 10,000 and 12,000 tons a day of pig iron, respectively.
In 1994, Thyssen Stahl-Service-Center GmbH was formed within the former Thyssen AG through the merger of service centers in Leverkusen, Mannheim, and Bochum, establishing a new service provider in the market.
In the 1990s, Thyssen and Krupp collaborate in various steel sectors, leading to joint ventures in tinplate, electrical steel, and stainless flat products in 1995, enhancing their market presence.
The merger of Thyssen and Krupp took place on September 1, 1997, leading to the establishment of Thyssen Krupp Stahl AG, one of the world's largest flat steel producers.
On March 17, 1999, Thyssen & Krupp merged to form Thyssen Krupp AG, combining the iconic elements of the Thyssen arch and the Krupp rings in their new logo.
In the year 2000, ThyssenKrupp Steel Europe implemented colored facades in their new buildings as part of an environmental enhancement initiative. The designs by Friedrich Ernst von Garnier aimed to integrate the industrial structures with the surroundings.
One of the most up-to-date vacuum facilities at the factory goes into operation in 2001, showcasing the continuous technological advancements and investments made to adapt the equipment to the state of the art.
In 2002, a 74.9% interest was acquired in Herzog Coilex GmbH in Stuttgart. Additionally, the French steel service centers Coste and Laminoirs et Ateliers de Jeumont were acquired, marking a significant expansion on the Western European market.
After a three-year construction period, the new coking plant in Schwelgern was put into operation in March 2003. It supplies coke for the large blast furnaces at ThyssenKrupp Steel Europe AG, replacing the coking plant in Duisburg-Bruckhausen.
ThyssenKrupp Steel decided to build an integrated iron and steel mill in Brazil in 2005 due to global rise in steel demand, commodity prices, and competition. However, construction faced challenges leading to increasing costs and profitability issues.
In November 2006, ThyssenKrupp, along with four other elevator manufacturers, was found guilty of price fixing by the EU. The companies were fined a total of US$1.3 billion for rigging bids, sharing markets, and fixing prices between 1995 and 2004.
In 2007, ThyssenKrupp AG invested €3.1 billion in building new carbon steel and stainless steel processing facilities in Calvert, Alabama, as part of its global expansion strategy into the North American steel markets.
On December 6, 2007, a tragic accident occurred at the ThyssenKrupp plant in Turin, Italy, resulting in the death of seven steelworkers due to a fire on the annealing and pickling line.
In early 2008, ThyssenKrupp Aerospace bought Apollo Metals and Aviation Metals, suppliers to aerospace and defense industries in Kent, Washington.
In 2009, there was an expansion and re-establishment of the Group with holdings in Spain and Portugal.
In 2010, the West German plants were consolidated at the new center in Krefeld.
In 2011, an industry unit was opened at Leverkusen.
In June 2012, ThyssenKrupp divested Thyssenkrupp Waupaca, a tier two automotive industry supplier in Waupaca, Wisconsin, to KPS Capital Partners.
In July 2012, the German Bundeskartellamt imposed fines totaling €124.5 million on ThyssenKrupp GfT Gleistechnik GmbH and other companies for engaging in price-fixing of steel railway lines and points blades supplied to Deutsche Bahn.
In September 2012, ThyssenKrupp agreed to sell Tailored Blanks to Wuhan Iron and Steel Corporation, a deal that included an undisclosed price and marked a significant move in the automotive components industry.
ThyssenKrupp completes the sale of tailored blanks to WISCO in 2013, marking a significant business transaction in the steel industry.
In April 2014, ThyssenKrupp revealed discussions with Saab to sell its Swedish maritime defense unit after failing to reach agreements with the Swedish government for new submarines.
In April 2015, ThyssenKrupp announced an investment of over €800 million in the North American region by 2020 to capitalize on the economy's reindustrialization.
In 2016, the company group underwent a name change to thyssenkrupp Materials Processing Europe.
In February 2017, ThyssenKrupp agreed to sell its Brazilian steel business CSA to Ternium for €1.5 billion, fully parting from the Steel Americas business.
In June 2018, Thyssenkrupp finalized a deal with Tata Steel to establish Thyssenkrupp Tata Steel, a joint venture becoming the second-largest steel producer in Europe.
In February 2020, ThyssenKrupp AG's board decided to sell its elevator segment to Advent International, Cinven, and RAG foundation for $18.9 billion, leading to the formation of a new stand-alone company named TK Elevator.
On 1 October 2023, ThyssenKrupp will launch Decarbon Technologies, a green energy division focused on developing sustainable energy solutions.