Thyssenkrupp will not spin off its steel division this year

The steel division of the German company Thyssenkrupp has been improved due to high demand and rising prices, and this year it will not be sold. The company said the primary driver of steel production was its main customer base, the automotive industry, although demand was partially constrained by parts and logistics problems in the car’s supply chain.

Thyssenkrupp said in its second quarter results (Jan-Mar) that there was no timetable for the expected spin-off of its steel division, which had several attempts to find outside partners or buyers, but that will not happen this year. …

ThyssenKrupp said it expects the economy to continue to recover for the current fiscal year, although growth is weakening. As a result of improved expectations, the company’s adjusted EBITDA will increase significantly.

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