Thyssenkrupp

Aiming Rs 3,000 cr top line in FY23 amid looming inflation: ThyssenKrupp

Capital goods and engineering major thyssenkrupp Industries India on Sunday said demand in core sectors will remain robust amid inflationary headwinds in the next 2-3 years. At the same time, the company also urged the government to consider extending production-linked incentives (PLI) scheme to basic industries to boost output and employment in the country. The national infrastructure policy will help the country achieve an economic output of USD 5 trillion by 2025 despite the complex global environment, a senior company official said. "Despite the complex global environment, we are optimistic about India's growth given the government's strong focus on infrastructure and a positive business environment. We are confident of achieving 15-20 per cent year-on-year growth in the next 2-3 years on the back of a strong order book," thyssenkrupp Industries Managing Director and CEO Vivek Bhatia told PTI in an interview, "We expect to end the year with a turnover of around Rs 3,000 crore i

Thyssenkrupp arm bags $75 mn EPC order from IOC's Baroda refinery

Thyssenkrupp Industrial Solutions India on Thursday said it has bagged a USD 75-million EPC contract from oil major Indian Oil Corporation to construct a catalytic dewaxing unit (CDWU) at its Baroda refinery in Gujarat. The proposed CDW unit will have an annual capacity of a 270-kilo tonne, a statement from the German company said. The CDW is an important unit in the production of lube base oils, which has its applications in the manufacture of lubricants. Thyssenkrupp said it will execute this project on an LSTK basis and the engineering of the unit will be based on the package received from Chevron Lummus Global, Rajesh Kamath, CEO & MD of Thyssenkrupp India's chemical plant business, said. In the past, Thyssenkrupp has executed multiple refineries and petrochemical projects for IOC. Currently, it is also implementing IOC' n-butanol project on an EPC basis. Thyssenkrupp Industrial Solutions India is a leading EPC and engineering consultancy offering solutions across ...

Thyssenkrupp, Tata Steel lose fight against EU veto of joint venture

The companies had sought to tackle over-capacity and other challenges in the steel industry via the joint venture but the European Commission said the deal could result in price hikes.

Thyssenkrupp group on track with restructuring, sees higher margins

The group is considering partnerships and consolidation or a stand-alone scenario for its marine systems division.

Thyssenkrupp bags Rs 1,150-cr contract from NRL for expansion project

The private firm said NRL has awarded an engineering, procurement and construction (EPC) contract to it

Thyssenkrupp ends talks with Britain's Liberty on steel unit sale

The move comes after Sweden's SSAB last month abandoned plans to buy the Dutch operations of India's Tata Steel

Thyssenkrupp raises annual outlook for first time in nearly four years

German conglomerate Thyssenkrupp AG raised its full-year outlook for the first time in nearly four years, citing turnaround efforts as well as improved demand for automotive components and materials

Thyssenkrupp could open books to Liberty Steel in early Dec: Report

Liberty Steel, headed by metals tycoon Sanjeev Gupta, last month unveiled a non-binding indicative offer for Thyssenkrupp Steel Europe

ThyssenKrupp to slash 11,000 jobs after recording $6.5 bn net loss

Sees another billion-euro deficit after 5.5-bn euro loss

Thyssenkrupp slashes another 5,000 jobs to 'stop the bleeding'

The group remains in crisis and CEO Martina Merz said more painful restructuring will be needed to stop burning cash.

Liberty Steel puts in a non-binding offer for ThyssenKrupp's unit

A sale of the steel business would mark a radical change in Thyssenkrupp's composition and structure, following the divestment of its elevators business earlier this year

German conglomerate Thyssenkrupp opens books in sale of plant-building unit

Thyssenkrupp is also open to considering offers for its automotive and remaining industrial assets

Tata Steel resumes talks with Germany's Thyssenkrupp for possible merger

Baosteel, SSAB also in race for German steel firm

German conglomerate Thyssenkrupp to cut 3,000 jobs at steel unit by 2026

Jobs will be cut in a socially responsible way, with no forced layoffs until March 31, 2026, Thyssenkrupp said.

Advent-led consortium to spend billions for Thyssenkrupp Elevator expansion

Thyssenkrupp said on Thursday it had agreed to sell its elevators division to a consortium of Advent, Cinven and Germany's RAG foundation for 17.2 billion euros

Thyssenkrupp sells elevator unit for $18.7 bn to Advent-led consortium

Thyssenkrupp said it would reinvest about 1.25 billion euros to take a stake in the unit

Thyssenkrup reports 364 mn euros loss in October-December quarter

On its sales, the company said that even in a difficult economic environment its sales were virtually stable at 9.7 billion euro in the first three months of the current fiscal even.

Crisis-hit Thyssenkrupp mulls sale of elevators units worth 15 billion euro

According to the Financial Times, Thyssenkrupp has attracted at least four bids for its crown jewel, including from Finnish lift maker Kone

Thyssenkrupp to review business plan for steel division in coming weeks

The remarks came as steel workers staged protests at the unit's headquarters in Duisburg in the heart of the Ruhr area, Germany's industrial heartland, asking for job security and future investments

Thyssenkrupp steel unit needs $1.7-bn investment: Works council chief

Thyssenkrupp this month scrapped the industrial group's dividend, warned of deepening losses and asked investors for yet more patience over its turnaround