NSK and thyssenkrupp evaluate automotive joint venture

The steering businesses of both companies are highly complementary and synergetic with
regard to product competencies, geographic footprints and customer groups. NSK expects
the combined capabilities will enable the joint venture to meet the broad and highly
technological needs of global automotive customers. It will also allow the combined entity to
compete more effectively in the global steering industry.
Saimon Nogami, Executive Senior Vice President of NSK Ltd, says: “NSK Steering and
thyssenkrupp Automotive share a similar customer-oriented culture and a commitment to
excellence. The envisaged joint venture will enable us to deliver products and services
packed with more value than ever before to our customers around the world.”
Martina Merz, CEO of thyssenkrupp AG, adds: “Our clear goal is to lead all of our
businesses to a top three position in the market. Where it makes technological and strategic
sense, we are happy to do this with strong partners at our side. In the automotive business
in particular, size and economies of scale are key factors for achieving success in global
markets. We’re already in an excellent position today with our automotive businesses. A
collaboration between our automotive segment and NSK Steering could help us to further
strengthen and expand this position.”
Steering systems from NSK centre on innovative products such as lightweight and compact
electric power steering (EPS), manual steering columns with adjustment capability and
effective energy absorption features, and lightweight joints and shafts offering numerous
integrated functions.
With the signed MoU, both companies agree on a non-binding assessment phase of the
relevant businesses without any preconceived outcomes. A decision on a possible
cooperation model will be taken by the end of the year.