Thyssenkrupp is actively exploring strategies to sustain its steel division amid ongoing financial challenges. The company has commissioned two external reports to assess the short- and long-term financial health of its steel business. These reports will guide future decisions and provide clarity on the division’s financing needs.
Recently, Thyssenkrupp wrote down the value of its steel division by €1 billion, attributing the decline to weak demand and competition from Asia. Despite these setbacks, the company remains committed to finding a viable path forward. Thyssenkrupp is pursuing a 50:50 joint venture with Czech billionaire Daniel Kretinsky and is open to discussions with other potential partners.
The company’s efforts to secure the future of its steel business are crucial as it navigates a challenging market environment.