Thyssenkrupp Shaking Off its old skin
Thyssenkrupp , a German multinational conglomerate has got its highest order of the last five years, thanks to the other steelmaking companies. Many German companies are exiting the steelmaking market because of many structural issues.
Labour representatives of workers operating in steel market are asking for more and more protection. Thyssenkrupp, under its new CEO Heinrich Hiesinger is transforming from traditional steel market to technology.
The company has sold its Brazilian steel mill to Ternium SA . It will also sign a deal with Tata Steel in 2018.
Heinrich Hiesinger said that though the company is finding a solution for steel division, it still has to find ways to make its other divisions better. The company is trying to shake off the traditional ways and accepting the modern ideas and business ideas.
To make sure it captures the vibes of new market face. Thyssenkrupp is betting its future on its elevators unit and automotive sector.