Thyssenkrupp Financial News

12.07 / 20:35

UPS Reuters Waters Manufacturing Thyssenkrupp President Hydrogen sector asks EU to help local firms compete with China

BRUSSELS: European manufacturers of hydrogen equipment have urged the European Union to step in to help the industry compete with cheaper Chinese producers, in a letter seen by Reuters on Monday. The companies, among them Thyssenkrupp Nucera, Siemens Energy, and Nel Hydrogen, want Brussels to do more to ensure Europe-made equipment powers the EU's plan by 2030 to produce 10 million tonnes of renewable hydrogen using electrolysers, machines that use electricity to split water to produce the green fuel. China is rapidly expanding its production of hydrogen equipment and is now home to 40% of the world's electrolyser manufacturing capacity, up from 10% last year, the letter said, adding that state subsidies were giving Chinese firms an edge.

22.01 / 18:39

Aviat Airlines Thyssenkrupp Trade stage reports boating Ministry of Defence moves ahead with submarine plan, MDL qualifies for next round

Mazagaon Dockyards Limited (MDL) qualifying after technical trials and moving to the next stage of techno-commercial negotiations.

25.11 / 15:17

markets FIVE Strategy economy Thyssenkrupp PAM Thyssenkrupp to cut 11,000 jobs at steel division in major corporate shakeup

Thyssenkrupp Steel Europe (TKSE) plans to reduce its workforce by 11,000 people or roughly 40%, the company said on Monday, the latest major restructuring to be announced by a German industrial giant. Germany's largest steelmaker, a division of Thyssenkrupp AG, is under pressure from cheaper Asian competitors, high power prices and a weakening global economy, leading to operating losses in four of the past five years. Thyssenkrupp will cut 5,000 jobs by 2030 and an additional 6,000 jobs through the sale of business activities or transfer to external service providers, it said.

18.10 / 19:15

markets Digital Manufacturing Strategy Sustainability Thyssenkrupp Experts JSW Steel-JFE JV to acquire Thyssenkrupp Co for Rs 4kcr

JSW Steel joint venture with Japan's JFE Steel Corp will fully acquire Thyssenkrupp Electrical Steel (TKES) India for ₹4,051.40 crore. The 50:50 joint venture between the two steelmakers is also looking at licensing or transfer of associated technology from Thyssenkrupp, which is included in the deal value. TKES India manufactures grain-oriented electrical steel, used in the making of transformers and generators, at its Nashik facility.

07.10 / 15:47

markets COST Sustainability Thyssenkrupp Trade reports Thyssenkrupp reviews plan to wean itself off fossil fuels

Subscribe to enjoy similar stories. Thyssenkrupp said it was reviewing plans to wean its steelmaking operations off fossil fuels due to high costs, making it the latest company to rethink energy-transition pledges. The assessment comes as the steel business of the German industrial group undergoes a broader review of its business plan.

16.04 / 19:15

Provident Manufacturing WhatsApp Thyssenkrupp stake Protos, Paharpur Cooling get CCI nod to raise stake in Thyssenkrupp India

Competition Commission of India (CCI) said on Tuesday it has cleared the acquisition of additional stake in Thyssenkrupp Industries India by Protos Engineering Company and Paharpur Cooling Towers. Thyssenkrupp Industries India mainly provides engineering, procurement and construction services to execute turnkey projects in various industries and after-sales services, the antitrust regulator said in a statement. Protos acts as an agent for companies that manufacture equipment, machinery and raw materials in sectors, including steel, cement and sugar. It is also the sole selling agent of Thyssenkrupp Industries India.

18.03 / 10:25

COST Provident Manufacturing Thyssenkrupp cover International dutch French company Naval Group has been selected to build 4 new submarines for the Dutch navy

The Dutch government says that French defense industry heavyweight Naval Group has been chosen to build four new diesel-electric submarines for the Dutch navy

24.12 / 17:48

Aware Platform Mobile Thyssenkrupp country reports travelers Spain eyes high-level India visit to focus on defence ties, migration deals

NEW DELHI : Spain is pushing for a high level visit from its Prime Minister to India in 2024 according to people aware of the matter. The focus of both countries will be on deepening defence ties and inking migration and mobility agreements. The move comes after Spain’s Prime Minister Pedro Sanchez missed the G20 Leaders Summit in Delhi in September due to a positive covid diagnosis.

23.11 / 10:16

Target CEO Landmark Thyssenkrupp President country reports German budget hole puts industry at risk, steel sector warns

By Christoph Steitz

20.11 / 18:33

Target Manufacturing Thyssenkrupp reports Spanish cos eye high speed rail in India

NEW DELHI : Spanish transport firms are interested in building high-speed railway networks in India, said the country’s ambassador Jose Maria Ridao Dominguez in an interview with Mint. Spain, which has the second largest network of high-speed trains in the world after China according to Dominguez, is interested in exploring the sector for its private sector companies. He mentioned Talgo, a Spanish manufacturer of high speed passenger trains, as an interested party in the high-speed rail sector. Besides this, defence is a key focus for Spain, Dominguez said.

18.11 / 17:49

Platform Pool Thyssenkrupp love social blues stars India Inc more than willing to cosy up to retired pros

peers are figuring out how to navigate retired life, former oil industry executive Vipin Gupta is juggling multiple assignments. Gupta could be found spending three to four days every week mentoring Gen Next as a 'grand manager' with data analytics firm Mu Sigma, or guiding NGO Dhwani Foundation on better corporate governance in his role as updeshak (advisor). He's also assisting agetech recruitment platform WisdomCircle — which helped him land these gigs — set up a recruitment vertical in the oil and gas space.

08.11 / 18:03

Cooper Aware Thyssenkrupp country 2024 ‘Germany keen on 2024 India visit for Chancellor Scholz’

BERLIN : Germany is keen to have Chancellor Olaf Scholz visit India in October 2024, according to persons aware of the matter. The visit is expected to coincide with the Asia Pacific Conference of German Business. Scholz, who has visited India twice this year, is also expected to attend the next round of intergovernmental consultations that take place once every two years.

02.11 / 15:43

Strategy Nano Thyssenkrupp 2020 Time After Tata Steel's big losses, shareholders could ask if it's time to sell Corus

Tata Steel's substantial net loss of ₹12,560 crore in the second quarter of fiscal 2024, mainly attributed to the restructuring efforts in its UK and mainland Europe steel operations, raises questions about the company's strategic view and intent on its European business. Tata Steel faced a dual challenge, marked by impairment charges and restructuring provisions related to its UK business. Its other challenges include overcapacity, economic uncertainties, high fixed costs, legacy liabilities, and trade tariffs.

14.09 / 12:23

Target Thyssenkrupp performer track Thyssenkrupp to Reorganize Portfolio, Combine Units With Energy Transition Technologies

Thyssenkrupp said on Thursday that it will reorganize its portfolio and combine business units with key technologies useful for the decarbonization of industry, while also launching a group-wide performance program. On Oct.

17.08 / 18:11

COST UPS Racing Coherent Thyssenkrupp Analysis-A year on, Europe less fearful of U.S. green subsidies push

By Jan Strupczewski

17.08 / 17:17

COST UPS FIVE Cooper Manufacturing Thyssenkrupp country US to impose tariffs on tin mill steel from Canada, China, Germany

By David Lawder

16.08 / 05:31

UPS Provident Aware Manufacturing Platform Thyssenkrupp country Deal Indian Germany, Spain join Mazagon Dock Shipbuilders in contest for $4.8 billion Indian submarine deal

defense manufacturing giants are seeking to win a Rs Rs 40,000 crore ($4.8 billion) order to build submarines in India as the South Asian nation looks to strengthen its navy to counter China’s expanding naval presence in the Indo-Pacific region. Indian officials are currently evaluating competing bids to build six of the vessels in the country, senior Indian officials aware of the developments said, asking not to be named because discussions are private.

10.08 / 11:53

COST Target CEO Thyssenkrupp show performer Thyssenkrupp flags new cost cuts to regain investor confidence

By Christoph Steitz and Tom Käckenhoff

25.07 / 20:01

UPS Target FIVE Thyssenkrupp stage ‘India strongest part of our steel portfolio’

NEW DELHI : T.V. Narendran, who will start his new term as Tata Steel Ltd’s chief executive and managing director, highlighted the challenges the company faces in Europe, even as he emphasized that the Indian operations remain “structurally the strongest part" of the steelmaker’s portfolio. “The first five years were all problems, the second was more inorganic growth, and these five years, hopefully, will be more organic growth," he said.

10.07 / 03:03

COST UPS Provident FIVE Booking Thyssenkrupp Top 5 Cash-Rich Midcap Stocks to Add to Your Watchlist

Investing in midcap stocks can be an exciting and rewarding endeavour for those seeking higher growth potential than established large-cap stocks offer. Midcap stocks typically represent companies with a market capitalisation between ₹10–15 bn, striking a balance between stability and growth prospects. Now, when looking for investment opportunities in this segment, one crucial aspect to consider is a company's cash position.

07.07 / 08:11

IPO Thyssenkrupp Thyssenkrupp launches hydrogen unit IPO in green push

Thyssenkrupp launched the IPO of its hydrogen unit Nucera Friday, one of the biggest European market floatations this year as interest grows in the shift to green technologies.

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