The need is great at Thyssenkrupp. The steel and industrial group urgently needs money. That's why he put his profitable elevator division up for sale. Now the decision should be made.
Essen (dpa) - At Thyssenkrupp, an important decision is made for the future of the company.
In the afternoon, the supervisory board of the ailing steel and industrial group wants to advise on the sale of the multi-billion dollar elevator division. Thyssenkrupp urgently needs money to repay debts and to finance the planned corporate restructuring.
According to CEO Martina Merz, investors have estimated the value of the elevator division at more than 15 billion euros. It remains to be seen whether Thyssenkrupp wants to sell the elevator and escalator business entirely or keep part of it.
The elevator division is currently the only noteworthy profit maker of the heavily indebted group. Thyssenkrupp Elevator has around 53,000 employees worldwide, which is almost a third of all employees in the Group.
While the steel business is deep in the red, sales and maintenance of elevators and escalators generated an operating profit of EUR 228 million in the first quarter of the current financial year alone.
There are still two groups in the bidding race. The RAG Foundation from Essen also belongs to the consortium around the financial investors Advent and Cinven. The second group of bidders are the investors Blackstone, Carlyle and Canadian Pension Plan.
Whoever has the employees on his side should also play a role in the decision of the Management Board and the Supervisory Board. IG Metall has already concluded agreements for the sale case with both bidders. "Jobs and locations have been secured," said the trade union leader in North Rhine-Westphalia, Knut Giesler. In addition, the commitment to invest in innovations "ensures the future viability of the elevator division".
At Thyssenkrupp, the situation had worsened in recent months. The EU Commission has banned the long-planned merger of the steel division with the European branch of the Indian steelmaker Tata. A split of the group into two stock companies was canceled, Thyssenkrupp flew from the Dax due to massive price losses. CEO Guido Kerkhoff had to take his hat off after just a year in office. In October, the chairwoman of the supervisory board, Martina Merz, took over as interim head of the board.
Announcement Thyssenkrupp from 17.2.
