http://www.thyssenkrupp.com/documents/Publikationen/Sonderveroeffentl/ThyssenKrupp_and_China_en.pdf

page 37 of page 65

It was becoming apparent to ThyssenKrupp Stainless that the increasing

internationalization of its customers with new, local production

facilities would require local service and short delivery periods

.

ThyssenKrupp Stainless holds a 60 percent controlling interest in the

Shanghai Krupp Stainless joint venture, which originally represented

an investment of us$ 1.4 billion. Shanghai Pudong Iron & Steel Co.,

now part of the Baosteel group, holds the remaining 40 percent