Factbox: Thyssenkrupp puts units up for review due to cash drain [Reuters]
VOESTALPINE AG UNSP/ADR (VLPNY)
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Source: Reuters
Factbox: Thyssenkrupp puts units up for review due to cash drain - Reuters 3 Min Read (Reuters) - Struggling German conglomerate Thyssenkrupp ( TKAG.DE ), whose shares hit a fresh 16-year low on Monday, put three underperforming businesses under review last week, hoping this will ease pressure on the group’s cash flow. The new plans come in addition to a planned sale or listing of its elevators division, by far its most profitable business. The three units put up for review — Springs and Stabilizers, System Engineering and Heavy Plate — account for 4%, or 1.7 billion euros ($1.9 billion), of group sales but a quarter of cash outflow this year, more than 250 million. Their combined 9,300 staff make up 5.7% of Thyssenkrupp’s total workforce. The company is now drawing up restructuring plans. If that should fail the businesses could be sold or shut down. Here are some basic facts on the units: - part of Thyssenkrupp’s Components Technology business division - described as “the biggest
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