financetom
Business
financetom
/
Business
/
Experts give positive update on Thyssenkrupp steel, reports Spiegel
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Experts give positive update on Thyssenkrupp steel, reports Spiegel
Nov 24, 2024 2:03 AM

BERLIN (Reuters) - Independent experts looking into the financial needs of Thyssenkrupp's steel business have taken a positive view on its ability to continue as a going concern, Germany's Der Spiegel magazine reported on Sunday.

Citing informed sources, Der Spiegel reported that the steel business has financial security for at least for two years.

There was no immediate comment from the company when contacted by Reuters.

In September, Thyssenkrupp commissioned two external reports to take a deep look at the steel business's short- and long-term financial health and needs.

Earlier this month, Thyssenkrupp said it had written down the value of its steel division by another 1 billion euros ($1.04 billion), blaming the sector's worsening outlook mainly on weak demand and Asian competition.

Thyssenkrupp is pursuing a steel joint venture with Czech billionaire Daniel Kretinsky but is seeking talks with other steelmakers in case that falls though after previous attempts to sell the division have failed in recent years.

($1 = 0.9600 euros)

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Citigroup, Apollo to Form $25 Billion Private Credit, Direct Lending Program
Citigroup, Apollo to Form $25 Billion Private Credit, Direct Lending Program
Sep 26, 2024
09:41 AM EDT, 09/26/2024 (MT Newswires) -- Citigroup ( C ) and Apollo Global Management (APO) said Thursday they have entered into a deal for a Citi unit and certain Apollo affiliates to set up a $25 billion private credit, direct lending program. The program, which will initially focus on North America, will include participation from Mubadala Investment as Apollo's...
Market Chatter: Pfizer CEO Reports Slow Progress on Plan to Sell Drugs to Poor Countries
Market Chatter: Pfizer CEO Reports Slow Progress on Plan to Sell Drugs to Poor Countries
Sep 26, 2024
09:36 AM EDT, 09/26/2024 (MT Newswires) -- Pfizer ( PFE ) has signed up only 10 of the 45 countries targeted under a program to make the company's drugs available to low-income nations at not-for-profit prices, Reuters reported Thursday, quoting an interview with Chief Executive Albert Bourla. The program started in 2022 and was expanded last year to cover more...
First Solar Opens $1.1 Billion Alabama Solar Manufacturing Plant
First Solar Opens $1.1 Billion Alabama Solar Manufacturing Plant
Sep 26, 2024
09:36 AM EDT, 09/26/2024 (MT Newswires) -- First Solar ( FSLR ) said Thursday that it has launched a $1.1 billion solar manufacturing plant in Lawrence County, Alabama, adding 3.5 gigawatts of annual solar nameplate production capacity in the US. The company said the new fully vertically integrated facility, expected to create more than 800 jobs, transforms raw materials into...
Mullen Automotive Gets $3.2 Million Vehicle Order from Pape Truck
Mullen Automotive Gets $3.2 Million Vehicle Order from Pape Truck
Sep 26, 2024
12:00 PM EDT, 09/26/2024 (MT Newswires) -- Mullen Automotive ( MULN ) said Thursday it has received a $3.2 million order from Pape Truck for 43 class 3 electric vehicle trucks and seven class 1 EV cargo vans. The company said deliveries will start immediately. Mullen shares were down 3.3% in recent trading. Price: 4.50, Change: -0.15, Percent Change: -3.25...
Copyright 2023-2026 - www.financetom.com All Rights Reserved