thyssenkrupp AG

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thyssenkrupp AG is an international industrial and technology company, which engages in the development and production of technology-based solutions for customer and market requirements. It operates through the following segments: Automotive Technology, Decarbon Technologies, Material Services, Steel Europe, and Marine Systems. The Automotive Technology segment supplies components and systems for the automotive industry. The Decarbon Technologies segment includes components used in solar and wind turbines, stake in the hydrogen electrolysis business, technologies for ammonia cracking, and utilization of green chemicals, as well as technologies for the green transformation of the cement industry. The Material Services segment distributes a portfolio ranging from materials and raw materials to technical services and processes in Europe and North America. The Steel Europe segment is involved in the flat carbon steel activities such as materials solutions and finished parts. The Marine System segment manufactures conventional submarines, naval vessels, and marine electronics. The company was founded on March 17, 1999 and is headquartered in Essen, Germany.

Thyssenkrupp's CEO on Tuesday said there were no taboos in plans to consolidate its steel unit, with options ranging from selling a majority to buying peers.

Thyssenkrupp CEO: no taboos in steel consolidation plans

Thyssenkrupp  on Monday said it was looking for partners for its steel and warship divisions, singling out just three lines of businesses that will stay within the struggling German industrial icon.

Ailing icon Thyssenkrupp seeks partners for steel, warship units

German conglomerate Thyssenkrupp  is in talks with international rivals about consolidating its loss-making steel business, a person familiar with the matter said.

Thyssenkrupp in talks with rivals over steel business: source

Sources informed on Monday that Thyssenkrupp (ETR: TKA) is seeking to consolidate its steel business. The company is already negotiating with international peers over its loss producing segment.

Thyssenkrupp approaches international peers to consolidate its steel business

Thyssenkrupp's  powerful labor representatives are open to consolidation talks in the steel sector, a leading union official told Reuters on Monday.

Thyssenkrupp steel workers open to consolidation talks - labor boss

German ailing conglomerate Thyssenkrupp  is in talks with international peers about consolidating its loss-making steel business, a person familiar with the matter said.

Thyssenkrupp in talks with peers over steel business: source

Cooperation between Fincantieri  and Thyssenkrupp  to build submarines is a good opportunity to talk about future consolidation in the European defence sector, the Italian shipbuilder's general manager Alberto Maestrini said on Friday.

Fincantieri says cooperation with Thyssenkrupp chance to talk about consolidation

Thyssenkrupp  and Germany's largest union IG Metall on Thursday called for further consolidation of the country's warship sector, saying a tie-up of rivals Luerssen and German Naval Yards (GNYK) did not go far enough.

Thyssenkrupp, union call for further consolidation in warship sector

thyssenkrupp AG (TYEKF) Q2 2020 Results - Earnings Call Transcript

Thyssenkrupp  is in informal talks about consolidation in the shipbuilding sector, its finance chief said on Tuesday, responding to speculation that the group might sell parts of its Marine Systems (TKMS) unit or merge it with rivals German Naval Yards and Luerssen.

Thyssenkrupp in informal talks about warship unit consolidation

German conglomerate Thyssenkrupp  warned on Tuesday that its operating loss could swell to 1 billion euros ($1.1 billion) in the April to June quarter due to the coronavirus crisis.

Thyssenkrupp faces deep quarterly loss due to coronavirus, shares tank

Thyssenkrupp  does not have a liquidity problem due to a 1 billion euro loan from state-owned lender KfW [KFW.UL] and the expected transfer of funds from the sale of its elevator division, its chief financial officer said.

Thyssenkrupp CFO: we don't have a liquidity problem

Thyssenkrupp  on Tuesday said its second-quarter net loss more than quintupled as the coronavirus pandemic hit all business lines at the struggling steel-to-submarines conglomerate.

Thyssenkrupp second-quarter loss widens as coronavirus impact starts to show

Thyssenkrupp  has less time for a wide-ranging restructuring plan than previously thought as the coronavirus pandemic is significantly burdening the already ailing conglomerate, its chief executive said in a note to staff.

Thyssenkrupp overhaul must happen faster due to COVID-19: CEO

Shares of Thyssenkrupp TKA, -11.55% skidded 17% in early action Monday on concerns over whether a deal to sell its elevators unit will go ahead.

Thyseenkrupp shares slump on worries over elevator sale

Germany's Thyssenkrupp  expects the coronavirus crisis to cause a new financial squeeze, scuppering hopes that selling its elevator business would deliver a swift cash respite for the embattled firm, its management board told staff in a letter.

Thyssenkrupp sees coronavirus cash squeeze despite elevator sale: letter

Thyssenkrupp  has secured about 1 billion euros ($1.1  billion) of state aid to tide it over until it receives the money from the sale of its elevator division, two sources said on Thursday, the latest German company to tap government funding.

Thyssenkrupp taps 1 billion euro in state aid amid cash squeeze before elevator sale

Thyssenkrupp  has secured state aid of around 1 billion euros ($1.09 billion) to get through a bottleneck until money from the sale of its elevator division comes in, a source close to the matter said on Thursday.

Thyssenkrupp secures state aid of around 1 billion euros: source

Thyssenkrupp  has secured state aid of around 1 billion euros ($1.09 billion), newspaper Handelsblatt cited sources with knowledge of the matter as saying on Thursday.

Thyssenkrupp secures state aid of around 1 billion euros: Handelsblatt

Norway has started formal talks with the shipbuilding division of Thyssenkrupp  for the construction of new submarines and expects to conclude the negotiations this year, the Norwegian defence ministry said on Monday.

Norway now in formal talks with Thyssenkrupp over new submarines

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Deutsche Telekom AG

German companies including ThyssenKrupp, Salzgitter, Bayer, Covestro, E.ON, HeidelbergCement, Puma, Allianz and Deutsche Telekom have called for coronavirus-related state aid to be tied to climate action, daily Handelsblatt reported.

German companies call for COVID-19 aid to be tied to climate action

German conglomerate Thyssenkrupp  will cut 3,000 jobs and invest 4.2 billion euros ($4.6 billion) at its struggling  steel division by 2026 as part of a wage deal struck with powerful labor union IG Metall, it said on Wednesday.

Thyssenkrupp to cut 3,000 jobs at struggling steel unit

The German elevator-to-car parts conglomerate Thyssenkrupp  will cut 3,000 jobs at its steel unit by 2026 as part of a wage deal it struck with powerful labor union IG Metall, it said on Wednesday.

Thyssenkrupp to cut 3,000 jobs at steel unit by 2026

Martina Merz, who took over as interim chief executive of Thyssenkrupp , will remain in the job until 2023 after successfully selling the group's elevator unit in a landmark deal last month, the conglomerate said on Friday.

Thyssenkrupp's Merz stays on as CEO to handle overhaul

Thyssenkrupp , a major supplier to the automotive industry, on Wednesday said it was considering shortened working hours as carmarkers reduce or suspend production due to the coronavirus crisis.

News for thyssenkrupp AG Stock (TKAMY)