The German steel group THYSSENKRUPP concluded an agreement covering the sale of its plastics systems subsidiary KRUPP WERNER UND PFLEIDERER (annual turnover of EUR 220 million with 1,100 employees) for an undisclosed amount. The acquirer is a joint venture between GEORG FISCHER, shouldered by the British investment fund WEST PRIVATE EQUITY, and the German public bank WESTDEUTSCHE LANDESBANK. The subsidiary will be combined with the WAESCHULE and BUSS companies, belonging to GEORG FISCHER which holds 50.1% of the shares in the new entity. This company should have a turnover of EUR 400 million with 2,000 employees and 18 subsidiaries.