thyssenkrupp
German industrial conglomerate Thyssenkrupp blamed a "gloomy" economic environment as it lowered its forecast for annual sales and earnings on Wednesday. Thyssenkrupp said it now expects sales for the 2023-24 fiscal year to be below the prior-year level, due largely to declining volumes and lower prices in the steel and materials trading business. The steel and engineering company also now projects a net loss for the year in the low three-digit million euro range. The company had previously assumed a break-even figure. In terms of adjusted earnings before interest and taxes (EBIT), Thyssenkrup...
DPA Breaking News
Czech billionaire Daniel Křetínský and his EP Corporate Group (EPCG) energy holding company have struck a deal to buy a 20% stake in thyssenkrupp Steel, Germany's largest steelmaker. Negotiations remain under way for Křetínský's firm to buy a further 30% stake in thyssenkrupp Steel, which is a subsidiary of German industrial giant tyssenkrupp. The aim is to form a joint venture in which both partners each hold 50% of the steel business, the Essen-based thyssenkrupp announced on Friday. In November, thyssenkrupp publicly revealed ongoing negotiations with Křetínský about its entry into the comp...
DPA Breaking News
The German steel and engineering company, ThyssenKrupp AG, said it has reached an agreement with EP Corporate Group or EPCG for the sale of 20% of ThyssenKrupp's steel business. The closing of the transaction is scheduled for this financial year, the companies said. In addition, the two companies are in talks for an additional 30% acquisition of the steel business by EPCG to form a 50:50 joint venture.
DPA Breaking News
Thyssenkrupp Steel's announcement late on Thursday of production cuts at its plant in the western German city of Duisburg has raised alarm and concern among local leaders. Thyssenkrupp management announced that production capacity in Duisburg would be significantly reduced, including through "as yet unquantified job losses." Around 27,000 people currently work for thyssenkrupp Steel, Germany's largest steelmaker and a division of industrial giant thyssenkrupp. About 13,000 of those workers are employed in Duisburg. Trade union leaders responded on Friday that they would only discuss production...
DPA Breaking News
Thyssenkrupp Steel's announcement late on Thursday of production cuts at its plant in the western German city of Duisburg has raised alarm and concern among local leaders. Thyssenkrupp management announced that production capacity in Duisburg would be significantly reduced, including through "as yet unquantified job losses." Around 27,000 people currently work for thyssenkrupp Steel, Germany's largest steelmaker and a division of industrial giant thyssenkrupp. About 13,000 of those workers are employed in Duisburg. A labour agreement between tyssenkrupp Steel and trade unions currently rules o...
DPA Breaking News
Thyssenkrupp Steel's announcement late on Thursday of production cuts at its plant in the western German city of Duisburg has raised alarm and concern among local leaders. Thyssenkrupp management announced that production capacity in Duisburg would be significantly reduced, including through "as yet unquantified job losses." Around 27,000 people currently work for thyssenkrupp Steel, Germany's largest steelmaker and a division of industrial giant thyssenkrupp. About 13,000 of those workers are employed in Duisburg. A labour agreement between tyssenkrupp Steel and trade unions currently rules o...
DPA Breaking News
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