Reported 2 months ago
Thyssenkrupp's CEO stated that the steel division needs to restructure to address a €1.3 billion funding gap. The parent company has promised financial support for the next two years, but plans to cut its stake in the unit amid declining demand and prices. The CEO emphasized that the financial security from Thyssenkrupp AG should alleviate insolvency concerns, while a new external audit is set to assess the restructuring needs.
Source: YAHOO