Thyssenkrupp plans to double sales to 2 billion
2023.01.16 14:25
Thyssenkrupp plans to double sales to 2 billion
By Kristina Sobol
Budrigannews.com – (ETR) Thyssenkrupp According to the division’s chief executive, the plant engineering unit plans to double sales to approximately 2.2 billion euros in the medium term and is open to taking on co-owners to accelerate growth.
Thyssenkrupp Uhde, which has about 5,000 employees, plans and builds factories for fertilizer, petrochemicals, coking, and polymer. However, the company wants to concentrate on ammonia production sites, which are becoming increasingly important as carriers of green hydrogen.
“We received 2 billion euros worth of orders last year. That was a record, “Cord Landsmann, CEO of Uhde, told Reuters. Our sales should also be there in the medium term. It is still about 1 billion at the moment.”
Landsmann, a former executive at energy companies E.ON and Uniper, wants to increase the proportion of order intake that is related to clean technologies, such as the production of green and blue ammonia, to over 90%, up from about a third currently.
Ammonia, which can be split into hydrogen and nitrogen to make fertilizer, is already transported in large quantities all over the world and costs less to liquefy and transport than hydrogen.
Germany’s efforts to maintain industry competitiveness have been hampered by a halt in cheap Russian gas supplies, which has motivated Europe, particularly Germany, to develop a hydrogen value chain.
“The parent company Thyssenkrupp also prioritizes the topic of sustainability and the transformation of industry.” We are therefore also open to partnerships and co-ownership for faster growth,” Landsmann stated.
Uhde is a part of Thyssenkrupp’s Multi-Tracks segment, which also includes businesses that the company might not want to fully own. One example is Nucera, a hydrogen joint venture with Italy’s De Nora that might one day be listed.
Technip (EPA:) is one of Uhde’s competitors in the field of plant engineering. Bechtel Corp., Fluor Corp., and Energies BV (NYSE:).
