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When it comes to venerable German business institutions, the industrial giant Thyssenkrupp is something of a poster boy. The Essen-based company is in turmoil though, as disagreements over job losses mount.
One of Germany's oldest industrial giants has agreed to a merger deal with one of India's biggest steelmakers. Thyssenkrupp sought the deal as a way to overcome challenges caused by cheap Chinese steel.
German industrial heavyweight ThyssenKrupp has seen a marked rise in its operating profit for its first quarter ending September 2017. And just before a merger, its steel unit proved a highly profitable division.
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.
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