ThyssenKrupp separates stainless business
The Executive Board of ThyssenKrupp as decided upon a long term strategy for its businesses including a decision to focus the materials business activities and to support the further development of Stainless Global. This means:
· Separation of the activities of the Business Area Stainless Global. All options regarding the continuation of its business activities outside the Group are to be investigated. In the last fiscal year the Business Area achieved sales of €5.9 billion and had more than 11,000 employees. The separation from ThyssenKrupp will result in an independent European market and quality leader within the stainless steel industry, giving Stainless the opportunity to develop its competitive position with greater flexibility - also with regard to potential strategic partnerships. This will also result in more potential for additional structural improvements and cost savings.
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