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  • Thyssenkrupp cuts 5,000 more jobs as CEO warns of more pain Nov 19, 2020 02:51 PM IST

    Thyssenkrupp cuts 5,000 more jobs as CEO warns of more pain

    The latest job cuts come after 6,000 reductions announced last year, and brings the total number of planned layoffs to 11,000, a third of which has already been realised, Thyssenkrupp said.

  • Tata Steel Europe’s final gambit in play Nov 19, 2020 12:28 PM IST

    Tata Steel Europe’s final gambit in play

    Tata Steel’s decision to sell its profitable Netherlands business may leave it with a struggling UK steel business

  • EXCLUSIVE: LIBERTY Steel-Thyssenkrupp combination will save jobs, says Sanjeev Gupta Oct 23, 2020 09:02 AM IST

    EXCLUSIVE: LIBERTY Steel-Thyssenkrupp combination will save jobs, says Sanjeev Gupta

    One of the main tasks of the India-born British businessman will be to convince the German company’s local workers, who prefer government intervention. Gupta says his Group will never let people go as they re-skill and re-employ them. Germany’s own Salzgitter and Sweden’s SSAB are also in the race. Thyssenkrupp is expected to choose up to two bidders by the end of November.

  • Thyssenkrupp closes $20.4 billion elevator unit sale Jul 31, 2020 05:00 PM IST

    Thyssenkrupp closes $20.4 billion elevator unit sale

    The group in February had agreed to sell the asset to a consortium led by private equity firms Advent, Cinven, with Germany's RAG foundation acting as co-investor.

  • Ailing icon Thyssenkrupp seeks partners for steel, warship units May 19, 2020 08:33 AM IST

    Ailing icon Thyssenkrupp seeks partners for steel, warship units

    Hoping to stop the bleeding of cash and restore investor confidence, the group also pooled businesses worth 6 billion euros ($6.6 billion) of sales and employing 20,000 staff

  • Thyssenkrupp in talks with peers over steel business: Source May 18, 2020 07:30 AM IST

    Thyssenkrupp in talks with peers over steel business: Source

    The talks, to be unveiled as part of a strategy revamp on Monday which is likely to include shutting or selling assets, follow a 372 million euro ($402 million) loss Thyssenkrupp Steel Europe, Germany's largest steelmaker, posted in the first half of the group's fiscal year.

  • Thyssenkrupp, Fincantieri in talks to form warship champion: Source May 14, 2020 07:50 AM IST

    Thyssenkrupp, Fincantieri in talks to form warship champion: Source

    Thyssenkrupp is exploring several strategic options for its warship unit, ranging from combining it with Italy's Fincantieri to creating a national champion with German peers

  • Coronavirus pandemic: Thyssenkrupp to scrap 3,000 steel jobs Mar 25, 2020 03:00 PM IST

    Coronavirus pandemic: Thyssenkrupp to scrap 3,000 steel jobs

    The job cuts in Germany were necessary to respond to "the enormous challenges in the steel sector" as the coronavirus pandemic wreaks havoc on the global economy, the company said.

  • Thyssenkrupp, Embraer to build four frigates for Brazil Navy Mar 06, 2020 07:35 AM IST

    Thyssenkrupp, Embraer to build four frigates for Brazil Navy

    The contract signed in Rio de Janeiro is part of Brazil's drive to modernize its navy so it can patrol off-shore resources in the Atlantic, such as Brazil's vast pre-salt oil reserves.

  • Thyssenkrupp sells elevator unit for $18.7 billion to Advent, Cinven consortium Feb 28, 2020 08:02 AM IST

    Thyssenkrupp sells elevator unit for $18.7 billion to Advent, Cinven consortium

    The bidding group prevailed against a rival consortium comprising Blackstone Group Inc, Carlyle Group Inc and the Canada Pension Plan Investment Board, which sources said submitted a lower offer.

  • Head of Thyssenkrupp's steel unit to leave: Report Feb 10, 2020 08:29 AM IST

    Head of Thyssenkrupp's steel unit to leave: Report

    Premal Desai has been leading the division since June 2019. He is likely to be succeeded by Bernhard Osburg, currently the unit's chief commercial officer, Handelsblatt said.

  • Kone offers $19 billion for Thyssenkrupp's elevator business Jan 29, 2020 08:15 AM IST

    Kone offers $19 billion for Thyssenkrupp's elevator business

    Kone, which has long championed the advantages of a tie-up between the world's third- and fourth-largest elevator groups, on Tuesday said it had made a non-binding bid, a day after a deadline expired.

  • Thyssenkrupp steel workers protest against German job cuts Dec 04, 2019 08:22 AM IST

    Thyssenkrupp steel workers protest against German job cuts

    Germany's powerful IG Metall union said 6,000 workers gathered at Thyssenkrupp's Steel Europe headquarters in Duisburg to vent their anger. The group, which makes products from raw steel to submarines and car parts, has said it intends to axe at least 6,000 jobs globally, including 2,000 in the troubled steel division.

  • Thyssenkrupp CEO Martina Merz announces sweeping job cuts Oct 09, 2019 01:35 PM IST

    Thyssenkrupp CEO Martina Merz announces sweeping job cuts

    "This is about strengthening businesses and improving performance. This is not a sellout," Merz said in the letter, which was seen by Reuters.

  • Thyssenkrupp aims to double revenue to Rs 4,000cr in next 5 years Oct 03, 2019 03:55 PM IST

    Thyssenkrupp aims to double revenue to Rs 4,000cr in next 5 years

    The company, which has a presence in India since over last five decades has made the country a global center of competence for energy, mineral processing, material handling equipment, and sugar industries, Thyssenkrupp Industries India managing director and CEO Vivek Bhatia told PTI.

  • Thyssenkrupp files complaint over Brussels' veto on Tata Steel JV Aug 22, 2019 04:20 PM IST

    Thyssenkrupp files complaint over Brussels' veto on Tata Steel JV

    It was already clear in early May that Brussels would block the deal, causing a strategic U-turn at the group which includes a planned stock market listing or sale of its elevators division.

  • Germany's ThyssenKrupp appoints Indian-origin CEO Jun 14, 2019 08:50 PM IST

    Germany's ThyssenKrupp appoints Indian-origin CEO

    The 50-year-old Indian-origin executive, who has been Chief Financial Officer (CFO) of ThyssenKrupp Steel Europe AG since 2015, will take charge as the Chairman of the Executive Board of the company.

  • EU blocks Thyssenkrupp-Tata steel merger plan Jun 11, 2019 04:55 PM IST

    EU blocks Thyssenkrupp-Tata steel merger plan

    The aim of the merger had been to create the second largest European steel company behind multinational giant ArcelorMittal and to join forces in the face of the surge of Chinese steel.

  • Unease among UK unions as Tata Steel looks for options after collapse of JV with thyssenkrupp May 14, 2019 03:55 PM IST

    Unease among UK unions as Tata Steel looks for options after collapse of JV with thyssenkrupp

    Unions want assurance that European units will not be broken up.

  • JV breakup with Thyssenkrupp marginally credit negative for Tata Steel: S&P May 14, 2019 12:52 PM IST

    JV breakup with Thyssenkrupp marginally credit negative for Tata Steel: S&P

    The steel major's Indian operation will largely be able to offset the impact of the collapse, it said. "Tata Steel Ltd and Thyssenkrupp AG's decision to cease efforts on their proposed Europe joint venture is marginally credit negative for Tata Steel," S&P Rating said in a bulletin in the wake of the development.

  • Deal track | Tata Steel’s European JV break-up pushes it into a corner May 14, 2019 08:20 AM IST

    Deal track | Tata Steel’s European JV break-up pushes it into a corner

    Tata Steel’s European business is back to square one. Its management needs to identify alternative plans soon, and this time failure is not an option

  • Thyssenkrupp to consider partial listing of elevators business, abandons split May 10, 2019 01:42 PM IST

    Thyssenkrupp to consider partial listing of elevators business, abandons split

    Chief Executive Guido Kerkhoff is abandoning the proposal to split Thyssenkrupp into two because its low share price has made a cross-shareholding structure unworkable, these sources said.

  • Thyssenkrupp expects its joint venture with Tata Steel to fail; stock tanks 7% May 10, 2019 01:33 PM IST

    Thyssenkrupp expects its joint venture with Tata Steel to fail; stock tanks 7%

    Thyssenkrupp and Tata Steel in 2018 unveiled plans to combine their steel activities in Germany, the Netherlands and Britain to become the continent’s second-largest steelmaker after ArcelorMittal.

  • Corporate corridor | Tata Steel-Thyssenkrupp break-up could leave investors teary May 07, 2019 08:26 AM IST

    Corporate corridor | Tata Steel-Thyssenkrupp break-up could leave investors teary

    Tata Steel’s investors have taken the European JV for granted and is reflected somewhat in valuations. A break-up could come as a rude shock

  • EU Commission extends review deadline for ThyssenKrupp, Tata Steel deal Apr 26, 2019 01:01 PM IST

    EU Commission extends review deadline for ThyssenKrupp, Tata Steel deal

    Tata Steel and ThyssenKrupp had proposed to combine their steel operations Europe, which would form the region's second-biggest steelmaker.

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