@Organicportfolio German industrial giant ThyssenKrupp AG is considering options for exiting its materials trading business, Thyssenkrupp Materials Services GmbH, which could be valued at as much as 2 billion euros. Bloomberg reports, citing trusted sources, that the company has already held initial talks with potential advisers about the unit's future.
Several scenarios are being considered, including spinning off the division into a separate entity or selling it, as the company has already received initial interest from potential buyers. At the same time, the sources said, the process is at an early stage and ThyssenKrupp could keep the unit in its structure for longer given the market volatility.
When asked by Bloomberg, a company spokesman said ThyssenKrupp is focused on giving its steel and marine divisions more independence and seeking growth through strategic partnerships and portfolio optimization.
CEO Miguel Angel Lopez Borrego has already announced plans to simplify the group's structure by shedding non-core businesses and focusing on engineering. ThyssenKrupp has been struggling with internal problems and rising energy prices in recent years.
Thyssenkrupp Materials Services is one of the world's largest independent distributors of non-metallurgical materials. The division employs around 16,000 people and generates around a third of ThyssenKrupp's total sales, which amounted to €12 billion last year. EBITDA amounted to more than €200 million.
I'm also hoping for the spin-off. But it will probably take until the end of the year. However, according to the Group, the order books are full to bursting until 2040.
