On May 13, German steel giant ThyssenKrupp said that at its meeting today the company's supervisory board approved in full the plans of the executive board for the restructuring of the company, affecting sales of around €10 billion and roughly 35,000 employees.
As SteelOrbis previously reported, ThyssenKrupp will separate its stainless steel business, that has achieved a sales volume of €5.9 billion in the last fiscal year and it also plans the divestment of ThyssenKrupp Waupaca, the market leader in the area of iron casting in the US.