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Thyssenkrupp AG (TKAG.DE)

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Latest Key Developments (Source: Significant Developments)

Thyssenkrupp says will examine Tata Steel pension deal
Friday, 11 Aug 2017 08:10am EDT 

Aug 11 (Reuters) - Thyssenkrupp :Says Tata Steel <<>> has informed it of pension deal with UK regulators.Says will now take the time necessary to examine the pension deal.  Full Article

Tata Steel signs document for new pension scheme in relation to British Steel Pension Scheme
Friday, 11 Aug 2017 07:44am EDT 

Aug 11 (Reuters) - Tata Steel Ltd :Says signs documentation for a regulated apportionment arrangement in relation to British Steel Pension Scheme.When RAA takes effect British Steel Pension Scheme will be separated from Tata Steel UK and a number of affiliated cos.Says pension protection fund issued confirmation on Friday of non-objection to the RAA.Says Tata Steel UK reached agreement for sponsorship of proposed new pension scheme‍​.Tata Steel - new scheme would have lower future annual increases for pensioners and deferred members than the British Steel Pension Scheme.Says all members of British Steel Pension Scheme would be invited to transfer to new scheme subsequent to completion of RAA.Says if qualifying conditions are met, members who choose to, will transfer to new scheme.Remains no certainty with regards to eventual existence, size or form of the new scheme.Funding position and membership of any new scheme still dependent on results of proposed voluntary membership transfer exercise.Says net financial impact of RAA including payment of agreed amount would be reflected in Q2 FY18 financials of co.  Full Article

Tata Steel gets approval for UK pension deal -regulator
Friday, 11 Aug 2017 07:36am EDT 

Aug 11 (Reuters) - Tata Steel :Receives approval for uk pension scheme deal-regulator.British Steel Pension Scheme Will Receive 550 Mln Stg From Tata Steel .And 33 percent stake in tata steel uk - regulator.  Full Article

Thyssenkrupp sees significant deleveraging in Q4
Thursday, 10 Aug 2017 01:06am EDT 

Aug 10 (Reuters) - Thyssenkrupp :Sees significant deleveraging in Q4 -presentation slides.  Full Article

Hungary's MOL forms new chemical partnership with Thyssenkrupp, Evonik
Thursday, 20 Jul 2017 02:55am EDT 

July 20 (Reuters) - MOL Plc statement says::Partners with Germany's Evonik Industries <<>> and Thyssenkrupp <<>> for propylene oxide plant.Plant to be built in Hungary, says its single largest investment project in 2017-21.MOL to spend up to $1 bln on project - CEO.Licence agreements target propylene oxide output of 200,000 tonnes per year.MOL intends to become a significant producer of polyether polyols, high-value intermediates for producing polyurethane plastics used in the automotive, packaging and furniture industries.Contracts concern the purchase of technology licences and process design packages for HPPO (hydrogen peroxide to propylene oxide) technology for propylene oxide production .Licensor of hydrogen-peroxide unit for captive use is Evonik.Consortium formed by Evonik and Thyssenkrupp Industrial Solutions licenses propylene oxide unit.Cooperation "beginning of a long-term partnership".  Full Article

Thyssenkrupp CEO says steel cost cuts will continue
Friday, 12 May 2017 09:03am EDT 

May 12 (Reuters) - Thyssenkrupp :CEO says positive trend in industrial solutions orders to continue through year.CEO says close to booking very large order in components in coming months.Says AST performing better but still some way to go, still wants to sell but nothing to report now.CEO says one cost-saving programme will follow the next in steel until overcapacity issue solved.CEO says should have clarity on next steel cost-cutting programme by end of business year.  Full Article

Thyssenkrupp doesn't see UK vote hindering steel merger talks
Friday, 12 May 2017 03:27am EDT 

May 12 (Reuters) - Thyssenkrupp :CFO says full-year net loss will be narrower than first-half net loss.CFO says doesn't expect UK general election to have major impact on Tata Steel <<>> merger talks.CFO says steel job cuts will not be as high as 4,000 feared by unions.  Full Article

Thyssenkrupp sees Q3 adjusted EBIT higher
Friday, 12 May 2017 01:04am EDT 

May 12 (Reuters) - Thyssenkrupp :Sees Q3 adjusted EBIT higher year-on-year.  Full Article

Thyssenkrupp says Industrial Solutions appoints new CEO
Thursday, 4 May 2017 04:38am EDT 

May 4 (Reuters) - Thyssenkrupp AG :Peter Feldhaus, formerly CEO of Marine Systems, will become chief executive officer of the Industrial Solutions division.Stefan Gesing, previously acting spokesman for the Industrial Solutions executive board, is now concentrating on his duties as CFO.The new CEO of Thyssenkrupp Marine Systems will be Rolf Wirtz, currently CEO of Atlas Elektronik.  Full Article

Thyssenkrupp plans closure of two German facilities - works council
Friday, 7 Apr 2017 12:24pm EDT 

Thyssenkrupp steel works council : Says management plans immediate closure of two facilities in germany, with loss of up to 350 jobs . Says management plans further job cuts, for example in logistics and among white-collar workers Further company coverage: [TKAG.DE] ((frankfurt.newsroom@thomsonreuters.com; +49 69 7565 1270;)).  Full Article


Thyssenkrupp makes offer to workers for Tata Steel deal: sources

BERLIN Thyssenkrupp has offered workers commitments on jobs and investments to get union backing for its deal with Tata Steel to merge their European steel operations, several people close to labor union IG Metall said.