|Bid||0.00 x 142800|
|Ask||0.00 x 10700|
|Day's Range||22.56 - 22.94|
|52 Week Range||20.67 - 27.07|
|PE Ratio (TTM)||N/A|
|Earnings Date||May 15, 2018|
|Forward Dividend & Yield||0.15 (0.67%)|
|1y Target Est||28.53|
German engineering association (VDMA) raised its forecast for 2018 output growth to 5 percent from 3 percent, driven by strong demand from other European countries and the United States, its head said on Monday. Speaking at the Hannover Messe trade fair, VDMA President Carl Martin Welcker said U.S. President Donald Trump's tax cuts have helped companies invest more in new machinery in German engineers' largest single export market.
"Nobody can have any interest in an escalation of trade disputes in which all sides - the United States, China and Europe - stand to lose at the end," VDMA President Carl Martin Welcker said at the Hannover Messe trade fair, according to a prepared speech text. Trump announced a 25 percent tariff on steel imports and 10 percent tariff on aluminium imports last month to counter what he has described as unfair international competition.
FRANKFURT/DUESSELDORF (Reuters) - A steel joint venture between Thyssenkrupp and Tata Steel will be delayed by ongoing talks between the Indian group and its British and Dutch workers, the German company said on Thursday. Unlike Thyssenkrupp, Tata Steel has yet to reach labour agreements at its Port Talbot plant in Britain and IJmuiden in the Netherlands, a key condition for a deal aimed at cutting overcapacity in the sector. Boards at both companies are expected to decide on the 50:50 venture by the end of June, Thyssenkrupp said, with the official signing now planned to take place afterwards.
Thyssenkrupp AG said it expects to decide on the planned merger with Tata Steel Ltd.’s European steel businesses by the end of June, missing a previous goal of signing early this year.
Labour leaders at Thyssenkrupp are seeking more clarity from management over a planned European joint venture with India's Tata Steel, warning of possible fallout at the German group's sites. The venture to form Europe's second-largest steelmaker last week came under fire from German unions, who say a labour agreement between Tata and its Dutch workers goes too far in protecting sites there. "In the next weeks and months we will scrutinise every single development," Tekin Nasikkol, head of Thyssenkrupp Steel Europe's works council and a member of the firm's supervisory board, said in a statement on Monday.
LONDON/MUMBAI/FRANKFURT (Reuters) - India's Tata Steel (TISC.NS) would consider taking a majority stake in its planned European steel joint venture with Germany's Thyssenkrupp (TKAG.DE) after the business has publicly listed, according to two sources familiar with the matter. Tata's willingness to increase its holding is a sign of its commitment to expanding its steel empire globally, said the sources. This had been questioned by investors and analysts in recent years after the company, under former group boss Cyrus Mistry, put its British steel assets up for sale following years of losses.
A far-reaching agreement between India's Tata Steel (TISC.NS) and its Dutch unit could put at risk plans for a steel joint venture with Thyssenkrupp (TKAG.DE), the German group's supervisory board vice chairman said. Thyssenkrupp and Tata Steel last year announced plans to combine their European steel operations to create the continent's second-largest player after ArcelorMittal (MT.AS), including up to 4,000 job cuts. In February, Tata Steel guaranteed its Dutch division could continue to operate as an independent company within the planned joint venture with Thyssenkrupp, with control over its own profits and an independent supervisory board.
DUESSELDORF/FRANKFURT (Reuters) - Plans by Thyssenkrupp and Tata Steel to combine their European steel operations face renewed opposition from German unions, who say the companies' labour agreement in the Netherlands goes too far in protecting work and sites there. Last month Tata Steel guaranteed its Dutch division it could continue to operate as an independent company within the planned joint venture with ThyssenKrupp, with control over its own profits and an independent supervisory board.
DUESSELDORF/FRANKFURT (Reuters) - Plans by Thyssenkrupp (TKAG.DE) and Tata Steel (TISC.NS) to combine their European steel operations face renewed opposition from German unions, who say the companies' labour agreement in the Netherlands goes too far in protecting work and sites there. Last month Tata Steel guaranteed its Dutch division it could continue to operate as an independent company within the planned joint venture with ThyssenKrupp, with control over its own profits and an independent supervisory board. The plant in IJmuiden would remain a "fully integrated steel company", Tata Steel Netherlands said.
FRANKFURT/DUESSELDORF (Reuters) - Thyssenkrupp's (TKAG.DE) upcoming strategic review may not go far and fast enough, major shareholder Cevian said on Tuesday, renewing a call to tackle the German conglomerate's complex structure to catch up with rivals. Thyssenkrupp's management and supervisory boards will hold annual strategy talks in May, with investors expecting new financial targets for the group's divisions as well as possible asset disposals. Thyssenkrupp's materials trading business is widely seen as a potential candidate for a sale, joint venture or listing as this would sharpen Thyssenkrupp's focus on its industrial goods business.
DUESSELDORF/FRANKFURT, Germany (Reuters) - German metals distributor Kloeckner & Co (KCOGn.DE) on Monday said it continued to be interested in Materials Services, Thyssenkrupp's largest division by sales, further raising expectations for a sale. CEO Gisbert Ruehl in late February said Kloeckner would take a look at the Materials Services unit, which accounts for almost a third of Thyssenkrupp's group sales, adding that no talks were currently being held on the matter. "I gladly confirm that these statements are still valid," the Kloeckner & Co spokesman said, responding to a report in German business daily Handelsblatt that Thyssenkrupp will likely sell Materials Services.
thyssenkrupp AG (XTRA:TKA) received a lot of attention from a substantial price movement on the XTRA in the over the last few months, increasing to €26.41 at one point, andRead More...
The United States opened the way for more exemptions from its steel and aluminum tariffs on Friday, after pressure from allies and intense lobbying from lawmakers, further diluting the measures just a ...
Germany's steel association called on the European Union to come up with effective countermeasures to the imposition of U.S. import tariffs on steel and aluminum, warning Europe might be forced to absorb more volumes as a result. "With this decision, the USA has largely sealed itself off from the rest of the world," Hans Juergen Kerkhoff, the association's president, said in a statement, adding there was a risk that steel might now flood the European market.
BERLIN/DUESSELDORF (Reuters) - The German military has excluded a consortium of ThyssenKrupp Marine Systems (TKAG.DE) and Luerssen from bidding for a contract to build a new multipurpose warship, both companies said on Thursday. Thyssenkrupp was notified of the exclusion from the tender process and was evaluating the reasons given, it said in a statement without elaborating. The tender is for Germany's new MKS 180 warship, which is one of the German military's largest armament intiatives and designed to combat targets in the air, above and below water and to conduct land operations.
Germany's Thyssenkrupp (TKAG.DE) joined rivals in reporting a strong recovery of its steel business, just weeks before it plans to ink a deal to merge the unit with the European operations of India's Tata Steel (TISC.NS). The planned joint venture, agreed in principle in September, is a bid to tackle excess capacity in the sector and further reduces Thyssenkrupp's ties to its steel-making roots after last year's sale of its Brazilian steel mill. "The market environment remains extremely challenging structurally, with continuing global overcapacities, risks from trade imbalances and highly volatile raw material prices," Thyssenkrupp said in its quarterly report.
Germany's Thyssenkrupp joined rivals in reporting a strong recovery of its steel business, just weeks before it plans to ink a deal to merge the unit with the European operations of India's Tata Steel. The planned joint venture, agreed in principle in September, is a bid to tackle excess capacity in the sector and further reduces Thyssenkrupp's ties to its steel-making roots after last year's sale of its Brazilian steel mill. "The market environment remains extremely challenging structurally, with continuing global overcapacities, risks from trade imbalances and highly volatile raw material prices," Thyssenkrupp said in its quarterly report.
Thyssenkrupp is not in talks with Finland's Kone about its elevator business, Thyssenkrupp's Chief Financial Officer Guido Kerkhoff told journalists on Wednesday after the group published first-quarter results. Kone, which competes with Thyssenkrupp's Elevator Technology division, last month said it was looking for acquisitions to further consolidate the elevator sector.
Steel workers at Germany's Thyssenkrupp (TKAG.DE) voted on Monday in favour of a labour agreement that will safeguard jobs and plants in a planned joint venture with Tata Steel (TISC.NS) until 2026, removing another key hurdle for the tie-up. Although not essential to the creation of the planned joint venture, workers' approval of the labour agreement is seen as a precondition to getting the deal done as it removes the risk of strikes and potential delays. Thyssenkrupp and India's Tata Steel in September unveiled plans to merge their European steel operations and create Europe's second-largest steel group behind ArcelorMittal (MT.AS), leading to speculation of significant job cuts.
Finland's Kone is looking for acquisitions as it hopes the elevator industry to consolidate further, its chief executive Henrik Ehrnrooth said on Thursday. "We are constantly looking for acquisitions ...
FRANKFURT/BOCHUM, Germany (Reuters) - Thyssenkrupp will review its strategy after a planned tie-up with India's Tata Steel, its chief executive said on Friday, fuelling investor hopes for further steps to make the sprawling industrial group more focused. Frustrated shareholders, led by activist Cevian, have been putting pressure on Thyssenkrupp boss Heinrich Hiesinger, saying the company was too unwieldy and should be broken up further. Hiesinger, at the helm since 2011, has already cut the number of business units, slashed debt and embarked on a mission to transform Thyssenkrupp into a group focused on technology and less on the steel business for which it is famous.
Feb.14 -- ThyssenKrupp CFO Guido Kerkoff discusses the company's earnings and performance. He speaks on "Bloomberg Daybreak: Europe."