Thyssenkrupp Takes $1 Billion Impairment on Steel Unit as Outlook Worsens
ESSEN, Germany (Reuters) -Thyssenkrupp took a fresh 1 billion euro ($1.06 billion) impairment on its struggling steel division, blaming the sector's worsening outlook as weak demand and Asian competition hurt Germany's industry.
Germany's struggling Thyssenkrupp books $1 billion impairment charge as steel demand weakens
Thyssenkrupp said its net loss of 1.5 billion euros in the fiscal year ending Sept. 30 — after deducting minority interest — was mainly due to asset impairments totaling around 1.2 billion euros. CEO Miguel Lopez said the current fiscal year will be one of "decisions" as the firm continues talks for its steel unit to form a joint venture with Czech billionaire Daniel Krentisky.
Thyssenkrupp takes US$1 billion hit on steel unit as outlook darkens
Thyssenkrupp has written down the value of its steel division by another US$1.06 billion, blaming the sector’s worsening outlook as weak demand and Asian competition weigh on German industry’s ability to compete.
Thyssenkrupp takes fresh $1 bln impairment on steel division
Thyssenkrupp on Tuesday said it took a fresh 1 billion euro ($1.06 billion) impairment on its struggling steel division, citing the sector's deteriorating outlook as well as future investments needed to decarbonise production.
German powerhouse Thyssenkrupp books $1 billion impairment on struggling steel unit
Germany's Thyssenkrupp on Tuesday reported a 1-billion-euro ($1.06 billion) impairment on its struggling steel division as the industrial powerhouse flagged "gloomy volume" expectations and structural challenges in the sector. The firm said its net loss of ...
Thyssenkrupp in €1bn writedown of steel business as demand slumps
The upheaval at Thyssenkrupp, which has since appointed new steel leadership, has unsettled German authorities. Berlin and local authorities have together pledged €2bn to support the company’s decarbonisation efforts, a critical step in developing a hydrogen market for Europe’s largest economy.
Thyssenkrupp takes $1 bln impairment on steel unit
Thyssenkrupp took a fresh $1.06 billion impairment on its struggling steel division, blaming the sector's worsening outlook as weak demand and Asian competition hurt Germany's industry. Francis Maguire reports.
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