ThyssenKrupp sells HiServ business to Wisag (DE)

ThyssenKrupp AG said it sold its HiServ GmbH property management unit to Wisag Service Holding for an undisclosed amount as part of the conglomerate´s focus on its core steel, automotive, elevator, technologies and services businesses.

HiServ has annual sales of about € 225 million and is the ninth largest facility management company in Germany, ThyssenKrupp said.

The expanded Wisag group will now have annual sales in excess of € 600 million and a workforce of more than 19,000.

'Taking over HiServ represents an important strengthening of our portfolio,' Bernd Jacke, chief executive of Wisag said. 'At present HiServ will continue to operate as an independent entity at its German locations. In the medium term we are certain that we will be able to integrate it successfully into the Wisag group.'

The sale announcement is ThyssenKrupp´s second of the week, following yesterday´s news that it agreed to sell its Krupp Edelstahlprofile GmbH (KEP) stainless steel unit to Germany´s Schmolz + Bickenbach Edelstahl GmbH and to Switzerland´s Swiss Steel AG, for an undisclosed amount.

Further moves may follow. In August ThyssenKrupp confirmed a press report that it is examining offers for its real estate unit. It owns 49,000 properties, and press reports said ThyssenKrupp could raise more than € 1.5 billion by selling them.
Source: Freeman

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