thyssenkrupp enters into new long-term agreement with ITP

thyssenKrupp Aerospace and the Spanish global operator and foremost manufacturer of aircraft engines turbines, components and associated services for the aviation sector, ITP based in Zamudio, Spain, have agreed to extend and add to their existing strategic cooperation. The aerospace experts of thyssenkrupp will extend the supply of stainless steel and nickel products to ITP locations in India and Mexico for a further two years to 2022. In addition, this arrangement will now be provided so that it includes ITP subcontractors globally.

"Both parties will benefit from the increased cooperation. Through our role as a global materials and services provider, ITP will further continue to concentrate on its own core business along the growth path already taken," commented Gary Lowe, Director thyssenkrupp Aerospace UK.

The extension to the long-term agreement was signed at this year's Paris Air show, one of the biggest and most important aviation industry fairs. "We are delighted with the collaboration and convinced that our global presence, our materials and processing capabilities as well as our expertise as supply chain specialist will continue to assist ITP in further expanding its business," said Gary Lowe following the signing of the contract in Le Bourget.

‘’ITP is likewise convinced that the expansion of the agreement will not only continue to deliver benefits for ITP manufacturing locations in India and Mexico through the local solutions implemented by thyssenkrupp Aerospace, but also enable ITP subcontractors globally to take advantage of the key deliverables within this contract,’’ says Javier Maurolagoitia Sarria, Supply Chain, ITP Externals.

The Paris Air Show is one of the world's largest and oldest aviation and aerospace exhibitions. At this year's, the 52nd, the newest technologies of the aerospace industry and related equipment, such as aircraft engines, satellite and navigation technology, aircraft cabins and seats will be presented. Over the years, the show has become one of the most prestigious international platforms in the industry. More than 150 aircraft are on show.

thyssenkrupp Aerospace provides the world's leading aerospace companies with materials and supply chain management services. The multinational group operates from numerous locations in the Americas, Europe, North Africa and Asia. At home in all the world's aerospace manufacturing regions, the company's 1,600 employees aggregate demand across a single supply chain on behalf of the world's leading OEMs. At the same time, the thyssenkrupp Aerospace network supplies local services to meet the needs of aerospace subcontractors throughout the world.