Arab Today, arab today thyssenkrupp shelves plans to sell railway
Last Updated : GMT 19:10:18
Arab Today, arab today
Arab Today, arab today

ThyssenKrupp shelves plans to sell railway

Arab Today, arab today

Arab Today, arab today ThyssenKrupp shelves plans to sell railway

Frankfurt - AFP

German heavy industry giant ThyssenKrupp said on Tuesday it is abandoning plans to sell its rail and construction activities after failing to secure sufficient offers. Instead, ThyssenKrupp will close down the rail unit and lay off hundreds of employees, but the construction equipment unit will be kept, the company said in a statement. "After an intensive exploratory phase, purchase bids have been reviewed and talks held with potential buyers over the past few weeks. None of the bids met the financial expectations of ThyssenKrupp," the statement said. ThyssenKrupp had announced in May 2013 that it was looking to sell the businesses -- ThyssenKrupp GfT Gleistechnik and ThyssenKrupp Bautechnik -- due to limited growth prospects. The activities represent combined sales of around 400 million euros ($555 million) and some 800 employees. ThyssenKrupp said it would now shut down the railway equipment business and cut 260 jobs. "Negatively impacted by the rail cartel and unprofitable, the railway equipment business has no growth prospects on the German market and is under extreme cost pressure," said board member, Klaus Keysberg. "Unfortunately we see no realistic chance of the railway equipment business making a value-adding contribution to the group's earnings in the long term," he said. By contrast, "the profitable construction equipment operations will be continued and repositioned following a business model analysis," Keysberg said.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today thyssenkrupp shelves plans to sell railway Arab Today, arab today thyssenkrupp shelves plans to sell railway

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today thyssenkrupp shelves plans to sell railway Arab Today, arab today thyssenkrupp shelves plans to sell railway

 



Arab Today, arab today Designer Rania Adel reveals her new collection

GMT 17:59 2017 Monday ,12 June

Designer Rania Adel reveals her new collection
Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today Mai Al-Jeddawi presents décor ideas for Ramadan
View News in Arabic - Business: أخبار الشركات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday