aerospace and defence based in Kent, Washington. In June 2012, ThyssenKrupp sold Thyssenkrupp Waupaca to KPS Capital Partners. ThyssenKrupp Waupaca is a tier two supplier to the automotive industry, located in Waupaca, Wisconsin. In April 2014, ThyssenKrupp announced it was in talks to sell its Swedish maritime defence unit to Saab after failing to agree deals with the Swedish government for a new generation of submarines. ThyssenKrupp Access, the global manufacturer of home elevators, wheelchair lifts, and stairlifts, has tied up with Chennai-based Indian Company Elite Elevators. The company has launched luxury home elevators segments targeting HNI Clientele to launch high-end elevators in India. In June 2018, Thyssenkrupp signed a final agreement with India's Tata Steel to establish a long-expected steel venture. The 50-50 joint venture will be called Thyssenkrupp Tata Steel and will be the second-largest steel producer in Europe, after ArcelorMittal. Divestments and Restructures of Steel Business Steel Europe In September 2017, ThyssenKrupp and India-based Tata Steel announced plans to combine their European steel-making businesses. The final agreement was signed in June 2018. The deal would have structured the European assets as ThyssenKrupp Tata Steel, a 50-50 joint venture headquartered in Amsterdam and created the second-largest steel producer in Europe. The merger was finally prohibited by the EU Commission in 2019 for competitive concerns. Steel Americas In 2013, ThyssenKrupp sold its US steel business to ArcelorMittal and Nippon Steel for $1.55 billion. In February 2017, it agreed to sell its Brazilian steel business CSA to Ternium for €1.5 billion. These two transactions meant that Thyssenkrupp fully parted from the Steel Americas business. On 11 May 2007, ThyssenKrupp AG invested €3.1 billion for a project consisting of building new carbon steel and stainless steel processing facilities in southern Alabama that would employ 2,700 people. The project, along with a multibillion-dollar greenfield steel-making facility in Brazil, is a cornerstone of ThyssenKrupp's new global expansion strategy into the North American and NAFTA high-value carbon steel markets. The company announced that the investment was increased to $4.6 billion in 2010. As of the date of the announcement, the investment was the largest private economic development investment in Alabama's history and the largest by a German company in the U.S. The site selection announcement came after several months of competition involving several southeastern sites which were eventually narrowed between a site on the Mississippi River in Convent, Louisiana, and a site on the