THYSSENKRUPP AS A group
ThyssenKrupp is one of the Europe`s largest steel producers based in Duisburg & Essen, Germany. It is one of the Europe`s largest conglomerates with more than 670 offices across 80 countries of the world. Not only steel, it is also a leader in manufacturing elevators, mechanical goods for automotive industry, marine systems and provides Business, IT and Real-Estate services alongside. Although ThyssenKrupp is present in many countries around the globe, its main sales come from Germany (33%) itself, followed by rest of the EU (28%) and NAFTA (21%). Apart from Germany, Spain & Italy alone constitute for about 9% of its sales revenue (ThyssenKrupp Group, http://www.thyssenkrupp.com/financial-reports/12_13 ). It is also a leader in innovation and expanding into Aerospace & Defense industries.
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Figure 1: ThyssenKrupp`s fields of expertise (Source: ThyssenKrupp AG Communications)
THYSSENKRUPP IN ASIA
ThyssenKrupp is growing at a very fast pace in Asia-Pacific and currently holds a strong base in South Korea, India, China and Japan. For example, the company`s relationship with India dates back to 1860 A.D. and with Japan to Meiji restoration times in early 1900s. The group openly declared that it will concentrate more on Asia than ever before. The group already employs some 19000 people in diverse activities in the region. Most of the present day metros and bullet trains that operate in major cities of China, Korea and now in India are engineered & serviced by ThyssenKrupp. (ThyssenKrupp Asia Pacific, http://www.thyssenkrupp.com/en/international/asien/).
China has pushed down many countries in competition and has evolved as an economic powerhouse in the last few decades through its foresight, strategy and commitment. The world is stumbled upon by its amazing success and growth. Almost every multinational company in the world has set up (or) in process of setting up their branches in China to get access to a 1.4 billion people (approx) market and take advantage of its hard-working & low cost labor force, policies and vibrant consumerism. ThyssenKrupp is no exception. But, ASEAN which has come up as a united front in competition to the two major Asian lookouts, China & India will be a best opportunity bet for this German conglomerate?!
ASEAN stands for ‘Association of South East Asian Nations’. It comprises of ten South- East Asian countries which are Myanmar, Thailand, Cambodia, Laos, Vietnam, Philippines, Indonesia, Brunei, Malaysia and Singapore. This region was once called “Indo-Chine” in ancient times and is a cultural link between Indian sub-continent and China. ASEAN initially started as an association for regional co-operation and empowerment and has been slowly emerging as a political & united socio-cultural identity. Its headquarters is located in Jakarta, Indonesia and is all set to become a one-market economy by 2015. So, from the end of 2015 onwards, we have to see ASEAN as one trade zone just like the EU. It is still expanding with new memberships on board like East Timor, Micronesia, Papua New Guinea and with Japan, China, India and Australia as observer nations. (ASEAN http://www.asean.org/ )
ASEAN BASIC FACT SHEET
- Seventh largest economy in the world and third in Asia after China & Japan giving tough competition to India.
- Highest visited tourist and expat destination in entire Asia
- Third most populous unit ( after China and India)
- Largest under-water natural resources in Asia ( E.g. Brunei, one of the largest exporters of natural gas)
- Second youngest population after India ( 60% under age 35) (ASEAN http://www.aseam.org/ )
- Quote paper
- Yashwanth Kumar Rasani (Author), 2014, Asean or China? ThyssenKrupp's best opportunities in oriental expansion, Munich, GRIN Verlag, https://www.grin.com/document/289129