The sale of his elevator branch will generate a profit of at least 15 billion euros for the German conglomerate of Thyssenkrupp. According to Martina Merz, the company desperately needs that money because the company faces the necessary challenges.
Thyssenkrupp, once a symbol of technical German competence, is struggling with the general downturn in the industry. For example, the margins of the steel division have been under pressure for many years and the balance sheet of the company, according to Merz, remains downright weak. Thyssenkrupp is currently monitoring all its divisions.
A decision on the elevator division is expected at the end of February. That branch was once again the best-performing component in the last figure presentation, but despite the good performance, the cash and debt position of the parent company deteriorated.
After the lift branch has been sold, Thyssenkrupp will outline the future of the other components. Merz emphasized that progress in steel activities requires mergers or acquisitions. The merger deal with the steel branch of Tata Steel Europe previously encountered competition concerns. It is reported that work is now being done on joining forces with Salzgitter.