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Thyssenkrupp AG (TKAG.DE)

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Latest Key Developments (Source: Significant Developments)

Tata Steel says 2.5 bln euros of debt will move to new JV
Wednesday, 20 Sep 2017 05:40am EDT 

Sept 20 (Reuters) - Tata Steel chairman Natarajan Chandrasekaran and group executive director (Finance and Corporate) Koushik Chatterjee::Says Thyssenkrupp merger helps Tata Steel India to go for inorganic and organic expansions‍​.Says Tata Sons will work closely with Tata Steel India to capture all opportunities in India post merger.Says combined entity will have common procurement and logistics.Says combined entity will help in having higher utilisation of steel capacity than Tata Steel Europe's current.Says 2.5 billion euros of debt will move to new JV.Says JV zero date of operations likely to be March 2019.Says definitive agreements will be signed by March 2018.Says India operations will double capacity in 5 years.Says Thyssenkrupp will not bring any debt but will bring some of its pension liabilities to the JV.Says JV will not lead to job losses and closure of sites.  Full Article

Thyssenkrupp India CEO says plans to expand electrical steel production
Thursday, 31 Aug 2017 05:04am EDT 

Aug 31 (Reuters) - Thyssenkrupp India ceo says::in merger talks with other companies including Tata Steel <<>>. .In talks with government for getting concession on import duty on electrical steel..Plans to expand electrical steel production to 40,000 tonnes by mid 2018 from 10,000 tonnes now.  Full Article

Tata Steel says co still in talks with Thyssenkrupp regarding merger of steel businesses
Monday, 6 Mar 2017 04:24am EST 

Tata Steel Ltd : Continues to be engaged and is in talks with Thyssenkrupp regarding potential merger of steel businesses .Says until definitive agreement is reached, no assurances that discussions will result in a transaction.  Full Article

Thyssenkrupp AG is in talks with Ternium SA to sell steel plant in Brazil - Nikkei
Tuesday, 25 Oct 2016 11:01am EDT 

: German engineering giant Thyssenkrupp AG is in talks with Ternium Sa to sell its large steel plant in Brazil - Nikkei . Thyssenkrupp AG talks with Ternium SA are at an advanced stage, could be concluded by year-end - Nikkei .Ternium would likely want to pay less than the steel plant's current book value of roughly $2.17 billion - Nikkei.  Full Article

Thyssenkrupp: Peter feldhaus new CEO of Thyssenkrupp Marine Systems
Friday, 30 Sep 2016 06:08am EDT 

Thyssenkrupp AG : Thyssenkrupp marine systems restructures leadership team .Peter Feldhaus head of strategy at Thyssenkrupp AG, has been appointed chief executive officer (CEO) of Thyssenkrupp Marine Systems, effective October 1.  Full Article

Tata Steel announces developments regarding European business strategy
Friday, 8 Jul 2016 01:18pm EDT 

: Tata Steel says will now begin process for potential sale of South Yorkshire based speciality steels business and the hartlepool pipe mills in the UK . Tata Steel to explore feasability of strategic collaborations through potential joint venture . Based speciality steels business and the Hartlepool pipe mills in the UK . Tata Steel says entered into discussions with strategic players in the steel industry including Thyssenkrupp AG . Tata Steel says received interest from several bidders for speciality steels and pipe mills in each case, formal process will be commencing shortly (Bengaluru Newsroom +91 80 6749-1130; within U.S. +1 646 223 8780).  Full Article

Thyssenkrupp says wins Riyadh Metro elevator contract
Wednesday, 6 Jul 2016 04:22am EDT 

Thyssenkrupp Ag : Thyssenkrupp says awarded a contract to design, manufacture, supply, install and maintain 641 elevators and escalators for lines 1 and 2 of the riyadh metro in saudi arabia. Further company coverage: [TKAG.DE] ((frankfurt.newsroom@thomsonreuters.com; +49 69 7565 1270;)).  Full Article

Thyssenkrupp says acquisition of minority stake in CSA completed
Wednesday, 1 Jun 2016 01:01am EDT 

Thyssenkrupp AG : Thyssenkrupp says all conditions to complete transaction have been fulfilled . Says now sole owner of Brazilian steel plant Thyssenkrupp CSA . Thyssenkrupp says transaction has not created need for financing Further company coverage: [TKAG.DE] ((frankfurt.newsroom@thomsonreuters.com; +496975651270;)).  Full Article

Thyssenkrupp says going for pricing versus volume
Tuesday, 10 May 2016 08:59am EDT 

Thyssenkrupp : CFO says AST is also on list of non-core assets we'd like to dispose of . CFO says in negotiations on some big-ticket contracts for industrial solutions . Says price pressure in elevators in China in single-digit percent . CFO says definitely wants to sell Brazilian CSA but not so easy in current market . CFO says going for pricing versus volume in Steel Europe, contract/spot focus not shifting Further company coverage: [TKAG.DE] (Reporting By Georgina Prodhan) ((georgina.prodhan@thomsonreuters.com;)).  Full Article

Thyssenkrupp sees Q3 adjusted EBIT down y/y, up q/q-slides
Tuesday, 10 May 2016 01:31am EDT 

Thyssenkrupp says sees Q3 Adjusted EBIT Down Y/Y, Up Q/Q : Says sees H2 adjusted EBIT above h1 for capital goods and all materials -slides . Says sees significant improvement in Q3 adjusted EBIT q/q -slides . Sees significant sequential improvement in cash flow in Q3 and H2 . Sees positive free cash flow before M&A in H2 -slides Further company coverage: [TKAG.DE] (Reporting By Georgina Prodhan) ((georgina.prodhan@thomsonreuters.com;)).  Full Article

UPDATE 2-Thyssenkrupp raises $1.7 bln to fund industrial goods businesses

* Thyssenkrupp shares down 1 pct (Recasts, adds context, shares, analyst comment)