ThyssenKrupp Aerospace buys UK’s The Waterjet Group

ThyssenKrupp Aerospace has been working with The Waterjet Group for many years and will integrate its employees, equipment and technical expertise into the ThyssenKrupp Aerospace global network. Explains Jürgen Funke, president of ThyssenKrupp Aerospace: "The acquisition of The Waterjet Group has strategic advantages for us. We have been successfully operating water-jet cutting facilities in the USA, Canada, Australia and Finland; the UK is a logical extension of these services. This integration will significantly strengthen our offering to our global customer base, especially to customers in the UK." The Waterjet Group was established in 2002 and is a leading UK water-jet cutting company for the aerospace industry. The company has several water-jets and related value add equipment, a large number of aerospace approvals and, to a smaller extent, also serves other high-tech industries, including the medical technology sector. The Waterjet Group operates out of a site near Leeds. With its equipment the company is able to process a wide range of materials and sizes for the European and international customer base. The acquisition will, it is said, considerably ease the logistics of water-jet cutting services, so that customers in other European markets will benefit from a faster, more cost-efficient service. John Ferguson, managing director of ThyssenKrupp Aerospace UK says: "We expect the combination of The Waterjet Group's and ThyssenKrupp Aerospace's expertise to deliver further productivity improvements and growth opportunities. The special focus on improving near-net shape cutting, thus improving the metal-utilisation, will continue to be part of our strategic goal." Steve Smith, managing director of The Waterjet Group, adds: "This is a very positive and exciting move for the company and its employees. We foresee many new opportunities working with ThyssenKrupp Aerospace and look forward to continue to service our existing customers with an increased level of commitment and service that comes with a larger organisation." Note: ThyssenKrupp is a diversified technology and materials group based in Essen, Germany. It currently has around 150,000 employees in some 80 countries. In fiscal year 2011/2012, ThyssenKrupp generated sales of more than $64 billion. ThyssenKrupp Aerospace supplies material and supply chain management services to the world's leading aerospace companies and their supply chains. The multinational company operates from numerous locations throughout the Americas, Europe, North Africa and the Asia-Pacific region. Located in all the world's aero-space manufacturing regions, the company's 1,600 employees meet the needs of the world's leading original equipment manufacturers via a single supply chain. At the same time, the ThyssenKrupp Aerospace net-work provides local services to meet the needs of aerospace sub-contractors anywhere