Thyssenkrupp is continuing negotiations on the consolidation of the steel business in Europe
the Largest steel producer in Germany, Thyssenkrupp is in talks with foreign counterparts on the consolidation of its loss-making steel business, said Reuters.
the Negotiations, which will be released as part of a strategic update on Monday, which will probably include the closure or sale of assets, followed by a net loss of 372 million euros, published by Thyssenkrupp Steel Europe in the first half of the current fiscal year.
Since then, a year ago there was a strategic reversal, in which Thyssenkrupp has abandoned plans to create a joint venture with the Indian Tata Steel in favor of the sale of his unit for the production of lift equipment, the group continued to consider the consolidation of the European steel assets.
According to Reuters, the negotiations between Thyssenkrupp and Tata Steel has never been interrupted and that both continue to exchange views on consolidation.
the Business newspaper Handelsblatt reported that Thyssenkrupp is also negotiating joint management metallurgical business from SSAB Swedish and Chinese Baoshan Iron & Steel.
Thyssenkrupp Shares rose 6.3% on Monday, 18 may at 07:11 UTC, which made it the largest growth in the German mid-cap index MDAX.
Its shares have lost more than 60% this year, while the MDAX lost about 17% of its value.