Steel workers in Germany's Ruhr area are afraid of job losses after a joint venture between ThyssenKrupp and Tata. Job cuts have become too normal in an area that has seen far-reaching structural change and few signs of new industries coming in.
Better than expected business in its material services and elevators unit have helped the German steelmaker beat full-year earnings forecasts, despite a net loss related to the sale of a steel mill in Brazil.
German industry giant ThyssenKrupp and Indian behemoth Tata have signed a memorandum of understanding on the merger of their European steel operations. The move is to address overcapacities in the market.
Thousands of steelworkers have come together in the western German town of Bochum to tell executives they are opposed to a merger between ThyssenKrupp and Tata. Plans for a tie-up were announced earlier in the week.
German heavy industry giant Thyssenkrupp has posted better-than-expected third-quarter results. The very division that's been causing the company the biggest headache of late is behind the upswing.
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