BERLIN, Sept 22 German steelmaker ThyssenKrupp
has denied a magazine report that it is preparing to
sell its automotive division.
Weekly magazine Focus said in an advance release of an
article to be published in Monday's edition that ThyssenKrupp,
struggling with billions of euros of debt and a loss-making
Steel Americas business, had asked potential investors for
indicative offers for its automotive operations.
"That's nonsense," a spokeswoman at the Essen-based company
told Reuters on Sunday. "We want to develop the business further
Last year, ThyssenKrupp sold its Tailored Blanks unit, then
market leader in laser-welded blanks for the automotive
industry, to Chinese peer Wuhan Iron and Steel.
(Reporting by Matthias Inverardi; Writing by Andreas Cremer;
Editing by Mark Potter)