The sale of thyssenkrupp’s industrial business in India was successfully completed. The majority stake in thyssenkrupp Industries India Private Limited held by thyssenkrupp was sold to the previous co-shareholders Paharpur Cooling Towers Limited and Protos Engineering Company Private Limited.
thyssenkrupp Industries India is an industrial equipment company that provides engineering, procurement and construction services for plant construction projects in the mining, energy and sugar industries, among others. The parties reached agreement on the transaction in January this year. Following completion of the competition law checks, the sale has now been completed. It was agreed not to disclose the purchase price.
Originally, thyssenkrupp Industries India was part of thyssenkrupp's mining activities, the majority of which was sold to the Danish company FLSmidth in 2022. Most recently, the Indian business was co-led by thyssenkrupp Polysius, a leading engineering partner to the global cement industry.
“With the sale of our Indian industrial business, we are closing an important chapter in our portfolio strategy in industrial plant construction. The sold technology program is no longer part of the core business of thyssenkrupp Polysius. Under the umbrella of our new Decarbon Technologies segment, we want to expand our product and service portfolio in cement plant construction towards green transformation and focus on higher-margin and more sustainable business models," says Volkmar Dinstuhl, Member of the Board of Directors of thyssenkrupp AG.
Despite the sale of the thyssenkrupp shares, both sides want to continue working together in the core business of cement production in the region. For this purpose, corresponding license and service agreements were concluded with thyssenkrupp Polysius. The aim is a seamless transition of business activities in core technologies from thyssenkrupp Polysius and optimal customer support for ongoing projects.
