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Thyssen Group confirms sharing plans

In addition to steel production, ThyssenKrupps products range from machines and industrial services to high-speed trains, elevators and shipbuilding. Image: ThyssenKrupp
In addition to steel production, ThyssenKrupps products range from machines and industrial services to high-speed trains, elevators and shipbuilding. Image: ThyssenKrupp
Published by
Markku Björkman - 01 Oct 2018

Steel company ThyssenKrupp plans to divide the group into two independent listed companies. It proposed the company's board during an extraordinary meeting on Sunday.

Capital goods and material stores will in the future be managed as independent listed companies with direct access to capital markets.

The Board is convinced that this new structure will benefit companies' development. Both companies continue to use the name ThyssenKrupp.

Guido Kerkhoff, Chairman of Thyssen Group, said in a press release:

"In recent weeks, a number of different strategic alternatives for Thyssen Group have been discussed publicly and often exaggerated. [...] We now propose a solution that not only creates value for our shareholders but also significantly improves our development prospects for our companies.

 

Cobalt mine in Democratic Republic Congo. About half of all mined cobalt comes from DRC, mainly from the province of Katanga. The mining takes place close to towns and villages. Local communities regularly are cut off from their farmland and water sources near mines, without having had a say in the matter. There are several examples of forced relocations of entire villages. Inhabitants of the village Kishiba, for example, were forced to move to make way for Frontier, a cobalt and copper mine. Their new homes in Kimfumpa lack the most basic of services such as clean water, fertile farmland, schools and health care. Photo: ECCJ Secretariat
Cobalt mine in Democratic Republic Congo. About half of all mined cobalt comes from DRC, mainly from the province of Katanga. The mining takes place close to towns and villages. Local communities regularly are cut off from their farmland and water sources near mines, without having had a say in the matter. There are several examples of forced relocations of entire villages. Inhabitants of the village Kishiba, for example, were forced to move to make way for Frontier, a cobalt and copper mine. Their new homes in Kimfumpa lack the most basic of services such as clean water, fertile farmland, schools and health care. Photo: ECCJ Secretariat

Chinese control half of the Congo's cobalt