REUTERS: Struggling German conglomerate Thyssenkrupp, whose shares hit a fresh 16-year low yesterday, put three underperforming businesses under review last week, hoping this will ease pressure on the group’s cash flow.
The new plans come in addition to a planned sale or listing of its elevators division, by far its most profitable business.
The three units put up for review -- Springs and Stabilizers, System Engineering and Heavy Plate -- account for 4 percent or 1.7 billion euros (US $ 1.9 billion), of group sales but a quarter of cash outflow this year, more than 250 million.
Their combined 9,300 staff make up 5.7 percent of Thyssenkrupp’s total workforce. The company is now drawing up restructuring plans. If that should fail the businesses could be sold or shut down.
Add commentComments will be edited (grammar, spelling and slang) and authorized at the discretion of Daily Mirror online. The website also has the right not to publish selected comments.
In order to critically discuss a movement, we must first understand its etymo
Many battles were fought during the long war between the Sri Lankan armed for
When can one say they’ve had enough of being in a state of ‘wokeness’ a
Members of a dozen Sri Lankan Tamil families gathered in the evening at the r
20 Mar 2023 - 2 - 560
18 Mar 2023 - 2 - 921
18 Mar 2023 - 0 - 587
18 Mar 2023 - 0 - 785
Name - Reply Comment