Steel News

thyssenkrupp Spin-Off to Focus on IOT Solutions

9/18/2019 - thyssenkrupp has created a new consulting and technology services company intended to help others undertake their own digital transformations.

Called thyssenkrupp Materials IoT GmbH, the newly established business is a spin-off from its materials services division.  

“Materials services is passing on its knowledge to customers, enabling them to benefit from the experience it has gained in the optimization and automation of production processes over the past 15 years,” the company said.

The new company is launching with thyssenkrupp’s toii® platform at its core. The platform allows machines of different makes and generations to communicate with one other around the world while optimizing, automating and visualizing data flows in production.

“The pace of innovation has picked up significantly in recent years and processes are becoming increasingly digitalized and connected,” thyssenkrupp Materials IoT chief executive Axel Berger said in a statement.

“In this environment it is becoming more and more important for companies to have competent partners they can rely on for innovative solutions to help secure competitive advantages and gain a foothold in Industry 4.0. We established tkMIoT to respond to this need.”