The management activities of the two companies are highly complementary and synergistic with
regarding product competencies, geographic footprints and customer groups. NSK expects
the combined capabilities will enable the joint venture to meet the vast and very
technology needs of global automotive customers. This will also allow the combined entity to
compete more effectively in the global executive industry.
Saimon Nogami, Senior Executive Vice President of NSK Ltd, said: “NSK Steering and
thyssenkrupp Automotive shares a similar customer-focused culture and commitment to
Excellency. The proposed joint venture will enable us to provide products and services
with more value than ever for our customers around the world. »
Martina Merz, CEO of thyssenkrupp AG, adds: “Our clear goal is to lead all of our
companies to one of the top three market positions. Where it is technological and strategic
meaning, we are happy to do so with strong partners at our side. In the automotive sector
in particular, size and economies of scale are key factors for global success.
markets. We are already in an excellent position today with our automotive activities. A
collaboration between our automotive segment and NSK Steering could help us continue
strengthen and extend this position.
NSK’s steering systems focus on innovative products such as lightweight and compact
electric power steering (EPS), manual steering columns with adjustability and
efficient energy absorbing characteristics, and lightweight joints and shafts providing many
built-in functions.
With the signed Memorandum of Understanding, the two companies agree to a non-binding evaluation phase of the
the companies concerned without preconceived results. A decision on a possible
cooperation model will be adopted by the end of the year.