According to the CEO of Thyssenkrupp AG Martina Merz, its steel division remains open to talks with rivals about consolidation in the European steel industry.
"We remain convinced that alliances or consolidation is the best way of development of the European steel industry, with regard to how excess capacity in Europe and the upcoming transformation in a neutral climate for the industry," said Mertz during a shareholders meeting on Friday.
German industrial group Thyssenkrupp has faced with debt and pension obligations 12.4 billion euros after years of failed investment and delay the necessary steps to restructure the business.
Group desperately tries to find a buyer for its unit for the production of elevators, which is estimated at more than twice the current market capitalisation of the group, amounting to about 7.3 billion euros, and is seen as the only asset which can correct the balance of Thyssenkrupp.
"Thyssenkrupp is in an extremely difficult financial situation," said Merz shareholders. "The challenges are great: our balance sheet remains weak, and the performance of some of our enterprises remain unsatisfactory. Therefore, we have no time for the continuation of losses".
After that, stock quotes Thyssenkrupp fell sharply and traded at the end of day 7% below the opening price.
we will Remind that last year the European Commission zablokirovali creation of joint venture of Thyssenkrupp and Tata Steel in Europe, then the problems both companies have intensified, under the threat turned out to be more than 5,000 jobs in the EU and the UK.
