Further Brazilian expansion for ThyssenKrupp

ThyssenKrupp Servicos do Brasil Ltda, based in Sao Paulo - a subsidiary of ThyssenKrupp - has acquired a 51% shareholding in scaffolding and industrial services businesses RIP Servicos Industrias SA and RIP Commercio SA, Indaiatuba.

In addition to scaffolding, RIP provides fire-proof coating, insulation, and corrosion protection, mainly to the petrochemical, aluminium, paper, energy and mining industries. Currently RIP employs 3500 people and generated a turnover of €80 million (US$100 million) in 2005.

According to Stefan Klebert, ThyssenKrupp Services executive board member: “The acquisition supplements our existing business in Europe and North America.... The South American market is set to grow. By sharing know-how among our companies and across continents we identify very good opportunities to forge ahead into further sectors with the services package supplied by RIP.”