ThyssenKrupp AG is a multinational holding based in Germany focusing on industry constructions and steel production. The company is world's number one in producing heavily alloyed steel and metal working machines, as well as the leading producer of sheet stainless steel, lifts, and escalators. ThyssenKrupp AG start officially working on March 17, 1999, as a result of a merger between Thyssen AG and Friedrich Krupp AG Hoesch-Krupp.
In December 2019, Thyssenkrupp showcased a new metallurgy business strategy aimed at its tech leadership and long term competitive performance. This strategy includes investments into production network optimization and extending technology features, which is also paired with massive cost reduction. By enabling this strategy, Thyssenkrupp aims to address the harsh challenges in the metallurgy sector: apart from the economy crisis and the pandemic, the steel segment had been suffering from excess capacities, very volatile raw materials prices, and high import pressure over many years. The strategy is aimed to bring in a significant revenue boost and a sustainable long term solution.
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