The head of ThyssenKrupp is determined to withdraw the steel business from the concern - der Spiegel
ThyssenKrupp CEO Martine Merz defended efforts to spin off the group's steel business as a separate company ahead of next week's board meeting.
"The future is for the business to be specialized and run without help the parent company,” Merz was quoted as saying by Der Spiegel weekly.
At the meeting of the supervisory board on March 31, an issue that is met with resistance from some employees will be discussed.
ThyssenKrupp Steel Europe headquartered in Duisburg is the largest steel company in Germany, employing about 26,000 people.
Formerly It was reported that Thyssenkrupp had halted a planned spin-off of its steel operations, which had been threatened by Russia's attack on Ukraine. The German industrial conglomerate was unable to spin off its steel business due to economic conditions, the company said in a statement.