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Keep Thyssenkrupp Whole, German Minister Urges

"All concerned should work together to strengthen Thyssenkrupp as a significant company in the German business world, thereby sparing jobs," said German Labour Minister Hubertus Heil.

Reuters

Updated:July 18, 2018, 3:08 PM IST
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Keep Thyssenkrupp Whole, German Minister Urges
The logo of German steel-to-elevators group ThyssenKrupp AG is pictured during the company's annual news conference in Essen, Germany. (Image: Reuters)
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Berlin: German Labour Minister Hubertus Heil said he was increasingly concerned about the situation at submarines-to-elevators conglomerate Thyssenkrupp after it lost its top officials under pressure from shareholders to restructure.

"We are following the situation at Thyssenkrupp intensively and with growing concern," he told Reuters on Wednesday, urging managers to preserve the company as a whole and preserve jobs in Germany.

"All concerned should work together to strengthen Thyssenkrupp as a significant company in the German business world, thereby sparing jobs," he added.

The company's chairman and chief executive both resigned this month following pressure from activist shareholders demanding a restructuring of the conglomerate. Potential bidders for parts of the company include Tata Steel and lift-maker Kone.​

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