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Steel division is likely to be sold – Liberty Steel interested

The heart of the Thyssenkrupp industrial group lies in the steel division. Now there is an interested party for this part of the business. A sale could make a lot of money for the company.

The British steel company Liberty Steel wants to take over the ailing steel division of Thyssenkrupp. The London company submitted a non-binding offer, as it announced on Friday. Liberty Steel initially did not provide any further details. The “Spiegel” had previously reported.

Liberty Steel employs around 30,000 people and is active in ten countries on four continents – in addition to Europe, also in Australia, the USA and China.

“Today we received an indicative offer to acquire the steel business,” said Thyssenkrupp. “We are now looking carefully at this offer. At the same time, we will continue our talks with other potential partners in the same way as before. Our goal is to make the steel business sustainable for the future. For us, it depends on the best solution to find.”

Steel division makes heavy losses

Thyssenkrupp is in a deep crisis. The long-established company is in the red for steel. In the first nine months of the current financial year alone, there was an operating loss of more than 700 million euros.

Overcapacities on the steel markets and a slump in demand put pressure on business. In addition, billions in investments are required in climate-friendly production.

Group boss Martina Merz has therefore been looking for a partner for some time. However, all previous attempts have failed.

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