|Bid||0.00 x 142800|
|Ask||0.00 x 10700|
|Day's Range||25.16 - 26.41|
|52 Week Range||21.05 - 27.07|
|PE Ratio (TTM)||N/A|
|Earnings Date||Feb 14, 2018|
|Forward Dividend & Yield||0.16 (0.53%)|
|1y Target Est||N/A|
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.
Thyssenkrupp will not be able to make strategic changes to its submarine business without the consent of the German government, Chief Executive Heinrich Hiesinger told shareholders on Friday. Thyssenkrupp Marine Systems, which is part of the group's struggling Industrial Solutions business area, will be up for review as part of Thyssenkrupp's annual strategic review, which covers all assets. The group does not break out results for Marine Systems but has said the unit's low earnings contribution significantly hit adjusted operating profit of Industrial Solutions, which posted a margin of 2 percent last year, below a 6 to 7 percent medium-term target.
German industrial and technology group Thyssenkrupp will refine its corporate strategy soon, its chief executive told a German newspaper in the wake of growing investor criticism over the company's structure and performance. "We will sharpen the strategy for the whole group and also adjust our financial targets," Heinrich Hiesinger told Handelsblatt before the group's annual general meeting on Friday. Shareholders led by activist investor Cevian a day earlier renewed calls for structural change at Thyssenkrupp, questioning whether producing everything from steel and car parts to submarines and elevators is still the right set-up.
Shareholders led by activist investor Cevian have renewed calls for structural change at Thyssenkrupp, putting more pressure on Chief Executive Heinrich Hiesinger before the steelmaker's annual general meeting. Investors have questioned whether producing everything from steel and car parts to submarines and elevators is still the right set-up for Thyssenkrupp, due to hold its AGM on Jan. 19. Cevian is Thyssenkrupp's second-largest shareholder after the Alfried Krupp von Bohlen and Halbach Foundation and holds a stake of about 18 percent.
A major shareholder in Thyssenkrupp (TKAG.DE) has criticised Chief Executive Heinrich Hiesinger for failing to achieve his own profit targets, raising tensions before the German industry group's annual meeting next Friday. Swedish investor Cevian reiterated its call to restructure Thyssenkrupp, in which it controls an 18 percent stake, piling pressure on Hiesinger as he tries to complete a merger of its steel business with that of India's Tata Steel (TISC.NS). "Thyssenkrupp is not developing in the way we expected.
Workers at carmakers Audi and BMW staged further strikes on Friday but German labour leaders and employers are aiming for a deal on wages and working hours by early February, representatives of both sides told Reuters. Some 160,000 workers had already joined industrial action this week to support IG Metall's wage claims and the union has threatened to call for 24-hour walkouts if talks fail to make progress.
German labour bosses and industrial employers agreed on Thursday to appoint experts to look into demands for shorter hours at regional wage talks, amid warning strikes and the threat of wider walkouts that could halt output at hundreds of companies. Emboldened by robust German economic growth and record low joblessness, the powerful IG Metall union is demanding 6 percent more pay for 3.9 million metals and engineering workers. It has also embarked on its first major campaign for shorter working hours in more than three decades, demanding that workers gain the right to reduce their weekly hours to 28 from 35 to care for children or elderly or sick relatives and then return to full-time employment after two years.
Thyssenkrupp could halve its stake in a planned European steel joint venture with Tata Steel if they list it on the stock market by end-2024, a board member of the German industrial group said on Friday. The two have committed to holding equal stakes for the first six years of the company's existence, Thyssenkrupp personnel chief Oliver Burkhard told journalists on a call. In case of a stock market listing, they are to retain at least a 50.1 percent stake, he said, meaning Thyssenkrupp could reduce its stake to 25.05 percent.
DUESSELDORF (Reuters) - Steel workers will vote on a deal to protect steel jobs and sites at German industrial group Thyssenkrupp (TKAG.DE) between Jan. 13 and Feb. 2, trade union IG Metall said on Friday. ...
DUESSELDORF/FRANKFURT (Reuters) - Workers on Thursday struck a deal with German industrial company Thyssenkrupp to secure steel plants and jobs, a big step towards a planned merger of the group's European steel business with that of India's Tata Steel. The deal removes a major obstacle to the merger, planned for next year, which will create Europe's second-largest steel group after ArcelorMittal and continue Thyssenkrupp's efforts to transform itself into a more technology-focused company. The workers' approval for the deal, first announced in September, is seen as key to getting the deal done and shows Thyssenkrupp's commitment to seek workers' consent for far-reaching structural changes.
German engineering and steel group Thyssenkrupp said it was possible that the planned steel joint venture with Tata Steel could be listed on the stock exchange within the next six years. "Thyssenkrupp will hold an interest in the joint venture for at least six years. At the same time a change to the shareholder structure, possibly as the result of an IPO, is not ruled out during this period," the group said on Thursday.
DUESSELDORF/FRANKFURT (Reuters) - Some investors in German industrial conglomerate Thyssenkrupp are becoming impatient with the pace of its restructuring, putting pressure on Chief Executive Heinrich Hiesinger to fix underperforming units and revive its flagging share price. In the job since 2011, Hiesinger is seeking to transform the sprawling engineering and steel group into a company with a focus on high-tech elevators, the construction of industrial plants, materials trading and its businesses serving car makers, its biggest single customer group. Since he took over nearly seven years ago, shares in Thyssenkrupp are down about a fifth, underperforming an 87-percent rise in the DAX but better than the 55-percent decline of ArcelorMittal, the world's biggest steelmaker.
DUESSELDORF/FRANKFURT (Reuters) - Some investors in German industrial conglomerate Thyssenkrupp (TKAG.DE) are becoming impatient with the pace of its restructuring, putting pressure on Chief Executive Heinrich Hiesinger to fix underperforming units and revive its flagging share price. In the job since 2011, Hiesinger is seeking to transform the sprawling engineering and steel group into a company with a focus on high-tech elevators, the construction of industrial plants, materials trading and its businesses serving car makers, its biggest single customer group. Since he took over nearly seven years ago, shares in Thyssenkrupp are down about a fifth, underperforming an 87-percent rise in the DAX but better than the 55-percent decline of ArcelorMittal (MT.AS), the world's biggest steelmaker.
German steel distributor Kloeckner & Co is not working on a bid for Thyssenkrupp's Materials Services unit, a spokesman for the company said in response to a media report. German monthly Manager Magazin earlier reported that Kloeckner CEO Gisbert Ruehl would soon propose a joint venture under the leadership of his company, taking advantage of growing shareholder criticism over Thyssenkrupp's slow turnaround. "There are currently neither talks between Kloeckner & Co and Thyssenkrupp over a tie-up with the Material Services division nor are we preparing an offer for it," a Kloeckner & Co spokesman said.
German steel distributor Kloeckner & Co is not working on a bid for Thyssenkrupp's Materials Services unit, a spokesman for the company said in response to a media report. German monthly Manager Magazin earlier reported that Kloeckner CEO Gisbert Ruehl would soon propose a joint venture under the leadership of his company, taking advantage of growing shareholder criticism over Thyssenkrupp's slow turnaround.
German engineering association VDMA expects the British market to stagnate next year as manufacturers hold off investments in factory equipment while they wait for a degree of clarity in Brexit negotiations. The market is likely to grow by 1 percent in 2018, "if at all", VDMA Executive Director Thilo Brodtmann told a news conference on Tuesday, following expected growth of 5 percent this year. German engineering exports to Britain fell 4.5 percent in the first nine months of 2017, and the VDMA expects additional costs of 180 million euros ($212 million) a year for its members if Britain leaves the customs union.
Categories: Europe Stock Alerts Yahoo FinanceGet full CapitalCube analysis *Disclaimer : This is as of previous day’s closing price. Technical Indicators Below is a quick look at 5 technical indicators for ThyssenKrupp AG. More studies are available on the Technical Chart. Indicator Signal Closing Price above/below 50 Day Moving Average Bullish Closing Price above/below 200 Day Moving Average Bearish 50 ... Read more (Read more...)
The chief minister of Germany's state of North Rhine-Westphalia has been elected to the board of the foundation that is the largest shareholder in engineering group ThyssenKrupp (TKAG.DE), it said on Monday. The election for a seven-year term of Armin Laschet, from Chancellor Angela Merkel's Christian Democratic Union, comes as ThyssenKrupp seeks to diversify away from its traditional focus on steel. "The membership is not tied to the position of chief minister.
Thyssenkrupp (TKAG.DE) has offered workers commitments on jobs and investments to get union backing for its deal with Tata Steel (TISC.NS) to merge their European steel operations, several people close to labour union IG Metall said. German industrial group Thyssenkrupp and India's Tata Steel agreed in September to merge their European steel operations, creating the continent's second largest steelmaker with revenues of 15 billion euros (13.22 billion pounds).
FRANKFURT/DUESSELDORF (Reuters) - Thyssenkrupp sees potential factory gear orders of more than 1 billion euros (£0.8 billion) over the next decade due to an expected production boom of lithium-ion batteries ...
Germany’s biggest union has given Thyssenkrupp AG until Dec. 22 to guarantee jobs and investments before the labor group will give its blessing to a joint venture with Tata Steel Ltd.
Thyssenkrupp (TKAG.DE) Chairman Ulrich Lehner has rejected investor calls to break up the industrial group and backed top management's plan to transform the firm into a technology group, Germany's Handelsblatt reported, citing an interview. Chief Executive Heinrich Hiesinger, who has run the group since 2011, is steering the firm away from the volatile steel sector and aims to transform it into a technology group focused on car parts and elevators. Cevian Capital, which holds around 18 percent in Thyssenkrupp, has criticized the management's transformation course for failing to boost profitability and called for structural changes to the group to help it become more agile.
German labour union IG Metall has given Thyssenkrupp until Dec. 22 to agree guarantees on jobs, plants and investment if the company is to get the union's backing for its deal with Tata Steel to merge their European steel operations. The deadline puts further pressure on Thyssenkrupp Chief Executive Heinrich Hiesinger, who has said he wants the approval of shop stewards for the plan to merge the group's European steel business with that of India's Tata Steel. Hiesinger, in the job since 2011, is trying to transform Thyssenkrupp into a technology group focused on car parts and elevators and workers say the company is shirking its responsibilities towards them by hiving off the steel business.
Categories: ETFs Yahoo FinanceClick here to see latest analysis ETFs with exposure to ThyssenKrupp AG Here are 5 ETFs with the largest exposure to TKA-DE. Comparing the performance and risk of ThyssenKrupp AG with the ETFs that have exposure to it gives us some ETF choices that could give us similar returns with lower volatility. Ticker Fund Name ... Read more (Read more...)
Jan.19 -- Lars Forberg, co-founder of Cevian Capital, discusses activist investing and his thoughts on ThyssenKrupp. He speaks with Erik Schatzker on "Bloomberg Surveillance."