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Thyssenkrupp is now also examining government aid Industry News automobile

The German industrial group Thyssenkrupp is examining financial aid from the state because of the corona crisis. “The extent to which this crisis and the financial consequences will affect Thyssenkrupp over time cannot – as for other companies – be assessed from today’s perspective,” the group said when asked by the Reuters news agency.

“Like other companies, we therefore have precautionary discussions and check whether and which of the public financial aid offered to the company are eligible for Thyssenkrupp.”

The cash register at Thyssenkrupp has been tense for years. The group is strongly geared towards the automotive industry, which has started to wobble even more due to the corona crisis. In the steel division, thousands of employees are expected to go into short-time work.

A number of German companies applied for cheap government loans in the Corona crisis. These include the sporting goods manufacturer Adidas or the travel group TUI.

A few weeks ago, Thyssenkrupp had separated from the lucrative elevator division, which is expected to flow into the coffers by 17 billion euros. CEO Martina Merz announced a new strategy for the Group in May – before the Corona crisis broke out. This should now become more difficult. Like many other companies, the Ruhr Group has now moved away from its earnings forecast for the current financial year.

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The strategy development was largely completed, the group emphasized. “The main cornerstones will be presented to the Supervisory Board on schedule in May. We will continuously analyze and evaluate the effects of the corona crisis for further development and concrete implementation.” (reuters / apa / red)

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