Thyssenkrupp’s Restructuring Plan Clears Major Union Hurdle

In a pivotal development for Germany’s industrial sector, the IG Metall union has given its approval to a sweeping restructuring plan for Thyssenkrupp’s struggling steel division. The endorsement, secured with a 77% majority vote from union members, signals a critical step forward in the company’s efforts to stabilize its operations. However, the plan’s ultimate activation hinges on a final decision from the corporate board regarding essential funding.

The market response to the union’s agreement was immediate and positive. Thyssenkrupp shares recorded significant gains following the announcement, climbing to ?9.85. This latest advance contributes to an extraordinary year-to-date performance, with the stock having surged an impressive 146%. From its September 2024 low of ?2.79, the equity has more than tripled Read more...