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EU court upholds Commission's Tata-thyssenkrupp merger prohibition
Fri, 24 Jun 2022 00:00:00 GMT
The General Court of the European Union has upheld the European Commissions decision in 2019 that the proposed Tata Steel Europe-thyssenkrupp joint venture would be incompatible with the internal market and the European Economic Area. The rejection of the merger had been anticipated by the two companies, who called off the merger plan in

Thyssenkrupp Steel spins off logistics into independent unit
Fri, 03 Jun 2022 00:00:00 GMT
Thyssenkrupp Steel says it will position its logistics activities as an independent subsidiary, under the name thyssenkrupp Steel Logistics GmbH. Thyssenkrupp is not only Germanys largest steel producer but also the countrys second-largest logistics provider with 142 million tonnes of goods transported per year,Kallanishlearns. The company has therefore decided to develop this strength more

Thyssenkrupp extends Merz's ceo tenure to 2028
Mon, 23 May 2022 00:00:00 GMT
Thyssenkrupps supervisory board has decided to extend Martina Merzs tenure as chief executive by a further five years to March 2028, Kallanish notes. Merz became acting ceo of the troubled conglomerate in 2019 following the ousting of Guido Kerkhoff, who had been in the position for only one year. She was made permanent chief

Thyssenkrupp's earnings win over costs in first half-year
Thu, 12 May 2022 00:00:00 GMT
Despite macroeconomic and geopolitical headwinds, thyssenkrupp was able to continue its good performance into the second quarter of the fiscal year through September 2022 (FY22). The groups order intake went up by over 50% year-on-year to 13.6 billion ($14.4 billion). Key drivers were higher market prices for steel achieved by its mill unit, tk

Steel scrap processing plant at Duisberg, Germany, to supply ...
Fri, 22 Apr 2022 00:00:00 GMT
The construction of a steel scrap processing plant by TSR Recycling GmbH at Duisburg, Germany, broke ground April 21, with the facility set to produce high-quality recycled raw material to be used in thyssenkruups local blast furnaces, the steelmaker said. The use of recycled products in the blast furnace would lead to a reduction

Former minister Gabriel chairs thyssenkrupp Steel supervisory ...
Tue, 12 Apr 2022 00:00:00 GMT
Thyssenkrupp AG has appointed Sigmar Gabriel and Elke Eller as new shareholder representatives to the supervisory board of thyssenkrupp Steel Europe. Gabriel was also elected as the new chairman of the supervisory board,Kallanishlearns. Gabriel was chairman of the Social Democrats SPD from 2009 to 2017 and German vice chancellor from 2013 to 2018. In

Arvedi to increase production at Acciai Speciali Terni
Fri, 01 Apr 2022 00:00:00 GMT
Italian stainless steelmaker Acciai Speciali Terni (AST), now part of Arvedi, is to reveal on Friday its industrial plan,Kallanishlearns from sources close to the company. An agreement signed this week with trade unions shows that Arvedi intends to hire more workers for ASTs entire hot-end area to increase production to 21 shifts per week.

ThyssenKrupp to renegotiate annual auto contracts
Wed, 30 Mar 2022 00:00:00 GMT
German steelmaker ThyssenKrupp is trying to renegotiate auto automotive contracts for 2022 finalised around January, according to market sources. The mill, which is heavily exposed to the automotive sector, wants to restore the kind of margins it initially achieved and pass on further increases in raw material costs. It is seeking increases of 300-320/t,

Thyssenkrupp warns war may thwart stand-alone solution for steel ...
Thu, 17 Mar 2022 00:00:00 GMT
Germanys Thyssenkrupp said March 16 it expects an impact on its business development as a result of direct and indirect effects of the war in Ukraine. Moreover, the wars economic consequences on the groups business development are also influencing the possible stand-alone solution for its steel business, it said in a statement.Thyssenkrupp AG remains

Thyssenkrupp to join ResponsibleSteel
Wed, 23 Feb 2022 00:00:00 GMT
Thyssenkrupp Steel will join the ResponsibleSteel initiative, which promotes a global standard and certification programme to ensure steel is responsibly sourced and manufactured. We want to give our customers the certainty that we are shaping our transformation to climate-neutral steel production, says Arnd Kfler, thyssenkrupp Steels chief technology officer. This will apply to the

Thyssenkrupp cashes in on higher steel prices
Fri, 11 Feb 2022 00:00:00 GMT
Thyssenkrupp Group made a good start to its new fiscal year, with significantly better order intake, revenue and earnings in the first fiscal quarter through December 2021. This was driven mainly by steelmaking unit tk Steel Europe and distribution unit tk Materials Services. These divisions each lifted December-quarter revenue by 39% year-on-year tk

Logistics hub opens in Duisburg port
Tue, 08 Feb 2022 00:00:00 GMT
Haeger & Schmidt Logistics (HSL) started operating its new steel warehouse on 1 February, located on the Stahlinsel (Steel Island) in the Port of Duisburg.The company invested 12 million ($14m) in the multifunctional warehouse with a heated 9,000m hall that has a capacity for about 60,000 tonnes of steel products. The new building will

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