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Stock impact report

Thyssenkrupp sells Italian stainless steel unit to Arvedi [Reuters]

THYSSENKRUPP AG S/ADR (TKAMY) 
NASDAQ:AMEX Investor Relations: thyssenkrupp.com/en/investors
Company Research Source: Reuters
FILE PHOTO: A logo of Thyssenkrupp AG is pictured at the company's headquarters in Essen, Germany, November 21, 2018. REUTERS/Thilo Schmuelgen/File Photo The German group's Acciai Speciali Terni (AST) division is Europe's fourth-largest stainless steel producer behind Finnish rival Outokumpu, Luxembourg-based Aperam and Spain's Acerinox. AST has been on Thyssenkrupp's list of potential disposal candidates for years and marks the biggest item in list of businesses it wants to sell, restructure or close. “This transaction has a compelling industrial rationale for Arvedi Group, which becomes stronger by successfully completing its product mix,” said Arvedi President Cavaliere Giovanni Arvedi said. “Furthermore, this transaction is strategic for the whole Italian economy and represents an initial step towards new, exciting developments.” The deal, which also covers AST's associated sales organisation in Germany, Italy and Turkey, is expected to close in the first half of 2022. Show less Read more
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