Thyssenkrupp sells the profitable elevator division and gets a lot of money in the till. Now a plan is needed how to get the rest of it going.
Essen (dpa) - After deciding to sell its elevator division, Thyssenkrupp wants to clarify how the other parts of the company will continue by May.
The steel and industrial group sells the elevator and escalator business to an international consortium, including the RAG Foundation, for € 17.2 billion. The board wants to explain details this Friday.
The Executive Board plans to present concrete plans for the further development of the individual businesses to the Supervisory Board in May. After that, it should be decided which businesses are to be developed further under their own steam, where a partnership with other companies is better and which parts of the company are to be sold, according to a statement by the group. With the income from the sale of the elevator division, Thyssenkrupp is able to consistently drive the restructuring of the company forward.
Thyssenkrupp expects the sale to be completed by the end of the current financial year on September 30. The Essen authorities are not counting on the concerns of the antitrust authorities. The new owners had a great deal of experience in leading companies on a profitable growth path, the company said. It was agreed with them that Thyssenkrupp Elevator would continue to operate as a global group. The company headquarters remain in Germany.
According to IG Metall, the future owners have agreed to secure their location and employment. It will run until at least March 31, 2027. Operational layoffs are excluded during this seven-year term; all existing locations in Germany have been retained with their essential functions and should be strengthened. The deputy chairman of the supervisory board of Thyssenkrupp, trade unionist Jürgen Kerner, said: "Thyssenkrupp has proven that it is possible to separate companies with great responsibility towards employees."
