German industrial giant Thyssenkrupp to spin off more divisions. (picture alliance/dpa/Fabian Strauch)
The German industrial group Thyssenkrupp said that it plans to restructure its remaining three business areas following the spin-off of its steel and marine shipbuilding divisions.
Thyssenkrupp AG is to become a strategic management company with independent units in the medium term, the company announced in Essen. It intends to retain majority stakes in the new businesses.
"The core of the considerations is to gradually spin off all Thyssenkrupp business areas and open them up to third-party investment," the company said.
It said that important steps had already been taken in this direction with the initiated spin-off of a minority stake in Thyssenkrupp Marine Systems and the planned joint venture for the steel division.
According to the announcement, the materials and automotive components divisions are also to become independent in the coming years.
"The goal is to form a focused, agile and restructured industrial group," the company said.
The relatively new Decarbon Technologies segment, responsible for Thyssenkrupp's carbon dioxide reduction products, is also to be spun off in the future "once the markets for green technologies have gained momentum."
With the reorganization, the company said it is offering its nearly 96,000 employees worldwide clear prospects for the future.
"By creating the conditions for the best possible development of the segments, we are giving the people at Thyssenkrupp a good and secure future," human resources director Wilfried von Rath explained.
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