German steelmaker ThyssenKrupp AG decided to separate its Stainless Global business activities from the Group in line with the optimization of the portfolio which is a part of the integrated strategic development program. The strategic development program aims to reduce debt, enable growth, increase income, and create value.
Regarding the separation of Stainless Global, the new management structure was defined and the new Stainless Global management team was selected. The new Stainless Global will have the structure of a holding company with a functional management board performing strategic tasks and managing the operating business units.
As a separate entity, Stainless Global will be able to strengthen its competitive position with greater flexibility and a view to potential strategic partnerships. The Group also considers other options such as a spin-off, a public offering or an outright sale.