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Thyssenkrupp won’t make decision on future of steel before spring 2022

Thyssenkrupp will decide on how it plans to further develop its steel business, Europe’s second-biggest, in 2022, Chief Financial Officer Klaus Keysberg said on Wednesday.

The group in February said it was considering a spin-off for the division as an alternative to keeping it, hoping cost cuts and a steel market recovery will help it fetch a higher valuation as a separate entity.

“Any decision on how we can make steel an independent company while simultaneously tackling the green transformation requires a clear framework of conditions,” Keysberg told journalists after presenting third-quarter results.

“And there won’t be a decision on the matter before next spring.”
Source: Reuters (Reporting by Christoph Steitz Editing by Riham Alkousaa)

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