It is the end of a flagship of the German industry. Thyssenkrupp opened the way, this Monday, May 26, to his dismantling with the hope of relaunching against the difficulties found, especially in steel. The group uses almost 100,000 people.
The abandonment of its conglomerate structure, which has become obsolete, seemed inevitable for Thyssenkrupp, born in 1999 of the fusion of the Krupp steel manufacturer, created in 1812, and the specialist in Thyssen Rails, created in 1867. Today it incorporates the coatings of the entire German economy.
After two strong annual losses, the group wants to transform into a more “flexible” Holding company that brings together several separate companies, according to a press release published Monday. Specifically, management wants to “gradually separate all Thyssenkrupp activity sectors, which gather steel, car parts, electrolysis or submarines” and open them to third -party investments. “
The ESSEN group “will retain total control and continue to participate in the future performance of companies”, of which it will continue to be a majority shareholder, except in Steel, promises Chief Miguel López. The project delighted the investors of the Frankfurt Stock Exchange, the Thyssenkrupp action flew by 8.22% around 3:00 pm in an MDAX index, UP 1.61%.
Fears for employment
This reorganization reveals new employment cuts, while Thyssenkrupp had announced in November that 11,000 jobs would be eliminated or subcontracted. According to Bild, the parallel group prepares a wave of publication publication in the administration, which uses 1,000 employees, and wants to reduce its ESSEN seat by 500 to 100 employees.
Until now, the Ruhr giant had responded to the difficulties with specific jobs cuts and sales of certain branches, such as steel. Last year, billionaire Daniel Kretinsky entered the capital of Thyssenkrupp Steel up to 20% through his EPCG of tenure, with the aim of acquiring 50% of the shares and founding a joint business.
“The dismantling of Thyssenkrupp symbolizes the decline of our economy,” the AFD Chief Alice Weidel reacted on X, demanding an “economic turning point” for the country. In mid -May, Thyssenkrupp had maintained its annual financial forecasts, with a return to profits between 100 and 500 million euros, after a second quarter in the Green.
Source: BFM TV
