Thyssenkrupp ploughs deeper into red, investor says fix output or leave it

Union Investment, a top-10 investor in ailing conglomerate Thyssenkrupp, raised pressure on management to present a plan soon for a turnaround of its steel unit, adding the group should otherwise drop the business. Steel Europe, subject to a highly cyclical market, made adjusted earnings before interest and tax of 31 million euros ($34 million) in the last fiscal year that ended Sept.

30, a decline of 95% year-on-year. Restructuring steel is one of the most pressing tasks for new Thyssenkrupp Chief Executive Martina Merz, who took.

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