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.

Germany will make a 1.5 million euro ($1.83 million) contribution to Thyssenkrupp's planned hydrogen electrolysis plant in Saudi Arabia, the second commitment this month under a broader national strategy to support hydrogen technology.

Germany to contribute 1.5 million euros to Thyssenkrupp's Saudi hydrogen plant

Thyssenkrupp could give Britain's Liberty Steel access to the books of its steel unit as soon as next week, people familiar with the matter said.

Thyssenkrupp could open books of steel unit in early December: sources

Thyssenkrupp AG (TYEKF) CEO Martina Merz on Q4 2020 Results - Earnings Call Transcript

Shares of Thyssenkrupp AG (ETR: TKA) fell nearly 10% on Thursday after the embattled company said it will lay off 11,000 employees. Fundamental analysis: The pandemic continues to hurt business Thyssenkrupp is planning to cut 11,000 jobs, which amounts to about 10% of its entire workforce as the conglomerate struggles to stem losses.

ThyssenKrupp stock price plunges 10% on 11,000 job cuts

Ailing conglomerate Thyssenkrupp on Thursday said it would need to cut a further 5,000 jobs to ease the impact of the coronavirus crisis on its businesses.

Thyssenkrupp cuts further 5,000 jobs to stave off coronavirus hit

Embattled conglomerate Thyssenkrupp is reviewing ways to keep its electrolysis unit Uhde as demand for large-scale production of hydrogen is expected to increase, three people familiar with the matter told Reuters.

Exclusive: Thyssenkrupp could change tack and keep hydrogen champion Uhde - sources

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European markets have modest gains today to break a series of consecutive losses on a daily basis. Separately, the International Monetary Fund (IMF) warned about the stock market correction in the coming months.

European markets: LVMH, Daimler, Volvo, ThyssenKrupp price analysis roundup

Thyssenkrupp has begun due diligence with potential bidders for its plant division as the German conglomerate accelerates a radical overhaul to sell or turn around ailing business units in the next two years, a top executive told Reuters.

Exclusive: Thyssenkrupp opens data room in sale of plant-building unit

Germany's second-largest steelmaker Salzgitter is not interested in an alliance with rival Thyssenkrupp , Chief Executive Heinz Joerg Fuhrmann told Reuters.

Salzgitter CEO rejects idea of steel alliance with Thyssenkrupp

thyssenkrupp AG (TYEKF) Q3 2020 Results - Earnings Call Transcript

Ailing conglomerate Thyssenkrupp on Thursday said some businesses were stabilising in the current quarter after suffering a heavy blow due to the coronavirus pandemic.

Hit by COVID-19, Thyssenkrupp sees first signs of stabilisation

ATLANTA, Aug. 6, 2020 /PRNewswire/ -- thyssenkrupp Elevator's Head of the Innovation and Qualification Center and Test & Qualification, NA, Alison Powers, was awarded the Women of Technology Award today from Connected World, the go-to media source for connected devices.

thyssenkrupp Elevator's Alison Powers Wins Women of Technology Award

Thyssenkrupp said on Friday it had closed the 17.2 billion euro ($20.4 billion) sale of its elevator division to private equity firms, giving the conglomerate a cash lifeline but robbing it of its best asset.

Thyssenkrupp closes $20.4 billion elevator sale

Thyssenkrupp on Friday said it successfully closed the 17.2 billion euro ($20.4 billion) sale of its elevator division, leaving the ailing conglomerate with a cash lifeline but robbing it of its best asset.

Thyssenkrupp closes $20.4 billion elevator unit sale

Conglomerate Thyssenkrupp must soon find a solution for its struggling steel unit and say how it will spend the 17.2 billion euros ($20.2 billion) in proceeds from the sale of its elevator division, a top-20 investor said.

Thyssenkrupp must quickly present strategy, steel solution: Deka

Activist fund Cevian, Thyssenkrupp's No.2 shareholder, has identified Swedish steelmaker SSAB as the financially strongest partner for a potential steel tie-up, two people familiar with the matter said.

Cevian sees SSAB as healthiest steel partner for Thyssenkrupp: sources

CHANGZHOU, China, July 20, 2020 /PRNewswire/ -- German multinational conglomerate ThyssenKrupp recently renewed its partnership with Changzhou National Hi-Tech District (CND), in Changzhou, representing its fifth investment in the Chinese city in five years. ThyssenKrupp decided to move.

China's Changzhou National Hi-Tech District renews partnership with German multinational ThyssenKrupp

Ailing conglomerate Thyssenkrupp is exploring further options for shoreing up its finances, which have been substantially depleted by the fallout from the coronavirus crisis, its management told staff in a letter.

Exclusive: Thyssenkrupp to explore further options for boosting finances - memo

Air Products and Chemicals

As part of the partnership, Air Products (APD) and Thyssenkrupp are expected to deploy economic green hydrogen plants in the gigawatt size.

Air Products (APD) & Thyssenkrupp Ink Green Hydrogen Deal

Germany's RWE plans to produce hydrogen from renewable energy to supply steelmaker Thyssenkrupp, the two companies told Reuters.

Exclusive: RWE, Thyssenkrupp plan hydrogen production venture

German utility RWE plans to mass produce hydrogen from renewable energy sources as part of a supply deal with  Thyssenkrupp so Germany's largest steel maker can gradually replace coal to power its blast furnaces.

Exclusive: Thyssenkrupp, RWE plan hydrogen mass production venture

Thyssenkrupp's CEO on Tuesday said that she could not put a timeline on the group's fresh turnaround plans, saying that selling assets - a key part of its strategy - was difficult in the current environment.

Thyssenkrupp CEO: Cannot put timeline on restructuring

Steel-to-submarines conglomerate Thyssenkrupp has changed the structure of its sprawling empire, splitting operations into three categories as it seeks to simplify the business, stop cash burn and revive its battered share price.

Factbox: House cleaning at Thyssenkrupp could start M&A wave

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.

News for thyssenkrupp AG Stock (TKAMY)