Thyssenkrupp Steel Targets Higher Profit
Thyssenkrupp steel division plans to triple its core profit over the coming years through significant job cuts and reduced capacity. The strategy aims to prepare the business for a potential spin-off while benefiting from stricter Asian steel import limits.
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THYSSENKRUPP AG's steel division aims to triple core profit to at least €1.2B ($1.4B) over the mid-term. The turnaround plan relies on deep job cuts and tighter trade barriers protecting European manufacturers from cheap Asian imports. The overhaul prepares Europe's second-largest steelmaker for a potential spin-off by 2027.
