US EditionThyssenkrupp Says India's Jindal Steel Makes Bid for Steel Business
Jindal Steel International's bid aims to preserve jobs and invest in green steel at Thyssenkrupp Steel Europe, which plans to cut 11,000 jobs by 2030 amid restructuring.
- India’s Jindal Steel International made a non-binding offer on Tuesday to purchase Thyssenkrupp Steel Europe , Germany’s struggling steel division.
- Thyssenkrupp has faced high manufacturing costs, fierce Asian competition, and costly green transition efforts, prompting talks with Jindal and Czech billionaire Daniel Kretinsky.
- Jindal plans to invest in green steel production, including a hydrogen-based plant in Duisburg, aiming to make TKSE Europe’s largest low-emission steel producer while focusing on profitability.
- IG Metall Vice Chair Jürgen Kerner called Jindal’s offer “fundamentally good news” due to its raw materials access and green steel expertise supporting job preservation.
- Thyssenkrupp will carefully assess Jindal’s indicative offer with attention to job impacts, marking a potential major step in restructuring to boost profitability.
46 Articles
46 Articles
As soon as Jindal Steel has published his interest in Thyssenkrupp steel, it goes on. Next the Indians will probably look into the books, the dpa learned. They also want to come.
The Indian steel manufacturer Jindal wants to take over the steel division of Thyssenkrupp.
For years, the steel division has been the concern child of the Thyssenkrupp Group. This is because of high energy prices, the slump in the economy and competition from Asia. From there, there is now a surprising offer to buy.[more]]>
Thyssenkrupp says India’s Jindal Steel makes bid for steel business
India's Jindal Steel International has made an offer for Thyssenkrupp's steel division, the German company said Tuesday, in what would be a mega-deal for the struggling industrial titan. Once a symbol of German manufacturing might, Thyssenkrupp has fallen into crisis in recent years as it battles high manufacturing costs at home and fierce competition from
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