Revamped Article:
Thyssenkrupp Revamp: Marine Division Up for Grabs, Lopez Still at the Helm
Thyssenkrupp remains committed to keeping Lopez as CEO and pursuing Green Steel projects.
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Climb aboard, 'cause Thyssenkrupp is shaking things up! CEO Lopez, despite the heat, hangs tight until 2031, while Marine division heads for public waters. So buckle up, 'cause we're navigating rough seas and choppy waters!
Muster your courage, folks, here's the scoop: Thyssenkrupp's bigwigs have given Lopez, the love-him-or-hate-him CEO, a five-year contract extension. Yeah, you heard it right! Lopez, who took the reins two years back, will call Thyssenkrupp his turf until 2031. But not everyone's cheering – Jürgen Kerner, IG Metall's VP, abstained from the extension vote. Tough times ahead for employee reps, eh?
But that ain't all. Staying on the Marine division front, it's official: Thyssenkrupp is spinning this business off! It's calling a shareholders' meeting on August 8 to sign off on the deal. By the end of 2025, the Marine division, under the new title Thyssenkrupp Marine Systems (TKMS), will make its debut on the Frankfurt Stock Exchange.
Here's the plan: The Marine division will be nestled within a new holding company. Shareholders of Thyssenkrupp AG, in proportion to their stake, will receive a 49% share of TKMS. Sounds like a win-win, right? The submarine builder's riding a wave of increased global demand for defense products, so they're swamped with around €18 billion in orders, guaranteed to keep production humming into the next decade!
As for the steel biz, Thyssenkrupp's not abandoning its green steel project, despite ArcelorMittal pulling the plug on its similar efforts. But, warning bells are ringing: A Thyssenkrupp spokesperson admitted that the Duisburg plant is at the brink of economic viability. Ouch, that doesn't sound good, folks.
So what does this mean for the steel biz? Let's see: ArcelorMittal's nixed its German green steel plans, chalking it up to lack of economic viability. That move's got German pols, like Federal Minister of Economics Katherina Reiche, peeved. They're calling for cheaper energy prices and pushing for talks with China to address cheap steel dumping. Reiche's also warning that going green ain't going to be a walk in the park – it'll be costly and complex.
In the meantime, both Thyssenkrupp Steel and Salzgitter are marching forward with their green steel projects, despite the hurdles. They're counting on federal and state funding to make the magic happen. In the steel industry, there's no time to back down – the climate-friendly revolution's on its way, and these players ain't backing down!
- ThyssenKrupp
- Marine Industry
- Steel Industry
- Economy
- German Politics
- Green Steel
- Stock Markets (Frankfurt Stock Exchange)
Where's the meat?
Thyssenkrupp Marine Systems (TKMS) is gearing up for a public listing in 2025, as part of the reorientation of the company into a holding structure with autonomous business segments [1][2]. The spin-off process involves Thyssenkrupp retaining a controlling stake in the Marine division, with the aim for the business to eventually become fully independent [2][3]. The listing will provide TKMS with greater flexibility, transparency, and access to capital markets, contributing to Thyssenkrupp's broader goal of separating its business segments and attracting external investments [1][3].
Sources:[1] Reuters, Thyssenkrupp Spin-off Marine Business for Frankfurt Stock Exchange Listing, URL[2] The Heise Online, Thyssenkrupp will list the Marine division on the stock exchange, URL[3] Businesswire, Thyssenkrupp prepares for spin-off of TKMS, URL [4] Wirtschaftswoche, Plädoyer für eine andere Thyssenkrupp, URL [5] Wirtschaftswoche, ArcelorMittal weg von Grüner Stahl, URL [6] Tagesspiegel, ArcelorMittal lässt Deutschland-Projekt für grüne Stahl nach URL [7] Bundesministerium für Wirtschaft und Klimaschutz, Decision - Replacement of blast furnace III at the Thyssenkrupp Stahl AG Duisburg site, URL
- As Thyssenkrupp Marine Systems (TKMS) prepares for its public listing in 2025, the community is urged to familiarize themselves with the company's policy regarding financial management and vocational training opportunities within the newly independent business segment.
- In line with the spin-off of TKMS, industry experts suggest that the separation of Thyssenkrupp's business segments and attracting external investments could lead to increased competition and expansion, potentially creating new business and employment opportunities across various sectors.
