May 18, 2020 / 6:06 PM / 2 months ago

Thyssenkrupp pools businesses to be sold or shut down

FILE PHOTO: Thyssenkrupp's logo is seen outside the elevator test tower in Rottweil, Germany, January 21, 2020. REUTERS/Michaela Rehl

FRANKFURT (Reuters) - Thyssenkrupp (TKAG.DE) on Monday said it would pool units that it plans to sell or shut down while singling out three businesses that will definitely stay within the group: materials services, industrial components and car parts.

The announcement comes as part of a strategy update to restore investor confidence, and the group said it was also exploring partnerships and other consolidation options for its steel division.

Reporting by Christoph Steitz; Editing by Tom Sims

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