Editing ThyssenKrupp

{{Short description|German multinational conglomerate steel corporation}}
{{Use dmy dates|date=February 2024}}
{{Infobox company
| name = ThyssenKrupp AG
| logo = Thyssenkrupp AG Logo 2015.svg
| logo_size = 175px
| image = Thyssen-Krupp-Quartier-Teilansicht-Essen-2013.jpg
| image_size = 250px
| image_caption = Headquarters in Essen
| type = [[Aktiengesellschaft]]
| traded_as = {{FWB|TKA}}<br>[[MDAX]]
| fate = 
| defunct = 
| predecessors = {{ubl|[[Thyssen AG]]|[[Friedrich Krupp AG]]}}
| foundation = {{Start date and age|1999|03|17|df=yes}}
| location_city = [[Duisburg]] and [[Essen]]
| location_country = Germany<ref>{{cite web|url=http://www.thyssenkrupp.com/en/presse/art_detail.html%26eid%3Dtk_pnid369|title=Press release – Press releases – thyssenkrupp AG|date=3 December 2014|work=Thyssenkrupp.com|access-date=5 April 2009|archive-date=3 March 2016|archive-url=https://web.archive.org/web/20160303191057/http://www.thyssenkrupp.com/en/presse/art_detail.html%26eid%3Dtk_pnid369|url-status=dead}}</ref>
| area_served = Worldwide
| key_people = [[Board of directors|Executive board]]: <br />Miguel Ángel López Borrego<br />(CEO), <br />Oliver Burkhard, <br />Johannes Dietsch, <br />Jens Schulte<br />[[Supervisory board]]:<br /> Siegfried Russwurm (Chairman)<ref>{{cite web|url=https://www.thyssenkrupp.com/en/company/management/executive-board/|title=Management|date=6 October 2019|work=Thyssenkrupp.com}}</ref>
| industry = [[Conglomerate (company)|Conglomerate]]
| products = Steel, [[stainless steel|stainless]] products, [[Automotive engineering|automotive technologies]], plant technologies, [[Marine engineering|marine systems]], [[shipbuilding]], [[firearm]]s
| revenue = {{increase}} €41.140 billion (2022)
| operating_income = {{Increase}} €5.660 billion (2022)<ref name="AR2019-2020" />
| net_income = {{Increase}} €1.220 billion (2022)<ref name="AR2019-2020" />
| assets = {{increase}} €37.492 billion (2022)<ref name="AR2019-2020" />
| equity = {{increase}} €14.742 billion (2022)<ref name="AR2019-2020" />
| num_employees = 103,598 (2020)<ref name="AR2019-2020" />
| subsid = <ref name=AR2019-2020>{{Cite web|url=https://ucpcdn.thyssenkrupp.com/_legacy/UCPthyssenkruppAG/assets.files/media/investoren/berichterstattung-publikationen/update-21.11.2019/en/anteilsbesitzliste-%C2%A7-313-hgb-tk_konzern-engl.pdf|title=Thyssenkrupp Subsidiaries 2019|accessdate=7 April 2023}}</ref>
| owners = {{plainlist|
* [[Alfried Krupp von Bohlen und Halbach Foundation]] (20.9%)
* [[Cevian Capital]] (13.7%)
* Others (65.4%)<ref name="Shareholder structure">{{cite web|url=http://www.4-traders.com/THYSSENKRUPP-436698/company//|title=Shareholder structure |publisher=4-traders.com}}</ref>
}}
| homepage = {{url|thyssenkrupp.com}}
}}
'''ThyssenKrupp AG''' ({{IPAc-en|ˈ|t|ɪ|s|ən|.|k|r|ʊ|p}}, {{IPA|de|ˌtʏsn̩ˈkʁʊp|lang}};<ref>{{cite web |title=Thyssenkrupp-Stahlsparte streicht 5.000 Stellen |url=https://www.youtube.com/watch?v=WuWOP5lUgyc |website=YouTube |publisher=tagesschau |access-date=25 November 2024}}</ref> stylized as '''thyssenkrupp''') is a German industrial engineering and steel production [[multinational corporation|multinational]] [[Conglomerate (company)|conglomerate]]. It resulted from the 1999 [[merger]] of [[Thyssen AG]] and [[Krupp]] and has its operational headquarters in [[Duisburg]] and [[Essen]]. The company says that it is one of the largest [[List of steel producers|steel producers]] in the world, and it was ranked tenth-largest worldwide by revenue in 2015.<ref name="Top steel companies">[https://www.statista.com/statistics/270128/the-largest-steel-companies-worldwide-based-on-revenue/ "The world's largest steel companies in 2015, based on revenue"] ''Statista''</ref>  It is divided into 670 subsidiaries worldwide. The largest shareholders are the [[Alfried Krupp von Bohlen und Halbach Foundation]] and [[Cevian Capital]].<ref>{{Cite web|url=http://www.4-traders.com/THYSSENKRUPP-436698/company/|title=THYSSENKRUPP (TKA)|website=www.4-traders.com|access-date=19 July 2018}}</ref> ThyssenKrupp's products range from [[Machine|machines]]  and industrial services to [[Transrapid|high-speed trains]], [[elevators]], and shipbuilding. The subsidiary [[ThyssenKrupp Marine Systems]] also manufactures frigates, corvettes, and submarines for the [[German navy|German]] and other [[navy|navies]].

==History==
ThyssenKrupp is the result of a merger of two German steel companies, [[Thyssen AG]] founded in 1891 under the name ''Gewerkschaft Deutscher Kaiser'' and [[Krupp]] founded in 1811. As early as the 1980s, the companies began negotiations on a merger and began closely cooperating in some business areas.  In 1997, the companies combined their flat steel activities, with a full merger completed in March 1999.<ref>{{cite web|url=http://www.Thyssenkrupp.com/en/konzern/geschichte_konzern_k5.html|title=Krupp – Lead up to the merger with Thyssen|date=30 September 2013|work=Thyssenkrupp.com|url-status=dead|archive-url=https://web.archive.org/web/20110928085138/http://www.Thyssenkrupp.com/en/konzern/geschichte_konzern_k5.html|archive-date=28 September 2011}}</ref>

===Beginnings (1811–1891)===
'''Krupp'''
* 1811: [[Friedrich Carl Krupp]] established a cast steel factory in [[Essen|Essen, Germany]].
* 1826: After Friedrich Krupp's death in 1826, his widow Therese Krupp ran the company together with other relatives and her eldest son Alfred, who was 14 years old at the time.
* 1833: Krupp manufactures complete rolling machines.
* 1847: Expansion of the railroads increases the demand for durable cast steel, triggering the company's first surge of growth. Supplies include axles, springs, and seamless tires that can withstand increasing speed without cracking.
* 1859: The Prussian military orders 300 gun barrels, marking the development of the company's second major production segment; shortly after Krupp begins producing complete artillery.
* 1862: Construction of the first [[Bessemer process|Bessemer]] steel plant on the continent for mass production of rails and steel sheets.
* 1864–1872: The company purchases various iron ore mines to avoid dependency on external suppliers. In 1873, Krupp established his own shipping company in Rotterdam to transport ore from the [[Economy of Spain|Spanish]] company Orconera Iron Ore Co., in which he owned shares.
* 1872: Alfred Krupp issues a "General Directive" establishing company hierarchy from foreman to management. Included in the directive are regulations concerning company welfare programs, including the pension fund, sickness, and death benefit insurance, company bakery and retail store, worker housing estates, and health care, all of which were slowly introduced beginning in 1836.

'''Thyssen'''
[[File:Thyssen & Co AG 1922.jpg|thumb|Bond of the Thyssen & Co. AG, issued February 1922]]
* 1867: Establishment of Thyssen, Fossoul & Co., a company making hoop iron for barrels, crates, baling, etc.
* 1871: Establishment of Thyssen & Co. in Mülheim an der Ruhr, Germany
* 1891: August Thyssen becomes the owner of the Gewerkschaft Deutscher Kaiser coal mine in [[Hamborn]] near [[Duisburg]]. One year earlier, the Thyssen company constructed a steel mill directly adjacent to one of the pits, thus Thyssen grows into an iron and steel mill with its own coal base.

===Wilhelminian period (1892–1917)===
'''Krupp'''
* 1893: After the death of Alfred Krupp in 1887, Friedrich Alfred Krupp expands his father's enterprise with takeovers of additional steel mills and shipyards and construction of diesel engines in collaboration with [[Rudolf Diesel]].
* 1899: With the acquisition of and/or increased investment in various coal mines (Hannibal colliery near [[Bochum]] and the Emscher-Lippe coal mine near [[Datteln]]) business development concentrates on vertical structures with the expansion of a coal base.
* 1903: [[Friedrich Alfred Krupp]] dies suddenly in 1902 at the age of 48 and his eldest daughter [[Bertha Krupp]] inherits the company. The company is converted into a stock corporation by the will of the late owner; Bertha retains all the stock. As she is still a minor, her mother Margarethe Krupp as guardian and proprietor takes over as the head of the company, managed by a board of directors.
* 1906: Bertha Krupp marries Gustav von Bohlen und Halbach who adds the Krupp name as a prefix to his own family name. He is appointed vice-chairman of the board and serves as chairman through 1943.
* 1912: Development of stainless, acid-resistant steels quickly finds application in the chemical and food processing industries, medicine, and building. The spire of New York's [[Chrysler Building]] is clad in the new stainless steel panels.
* 1917: The "[[Paris Gun]]" is developed with a range of {{convert|130|km|mi|sigfig=1|abbr=on}}.

'''Thyssen'''
* 1895: Thyssen sets up integrated iron and steel mill with the construction of a blast furnace plant at the Gewerkschaft Deutscher Kaiser. Expansion later is focused on vertical integration of the group.
* 1906: Intra-company trading and shipping organizations are established to facilitate the transport of iron ore to the blast furnace plants. In 1910, the N.V. Handels- en Transport Maatschappij Vulcaan ocean shipping company is established in Rotterdam to keep the Thyssen group independent of the international freight market.
* 1910: Expansion with mills in the [[Lorraine]] and in [[Normandy]].
* 1912: Various branches are set up in the Mediterranean area (Algiers, Port Said, Suez, Oran, Naples, Bona, Bizerte, Tangier, and Genoa) so that freighters can store coal en route to Russian or Indian ore mines besides delivery of coal or freight for third parties.
* 1913: Attention is paid to Latin America with the founding of the ''Deutsch-Überseeische Handelsgesellschaft'' (German Overseas Trading Company). Thyssen constructs extensive housing estates and related infrastructure to attract workers to the western Ruhr area. By the end of 1913, Thyssen owns 8,750 housing units for 15,500 employees and 850 civil servants: housing for 44,000 people.
* 1914: Gewerkschaft Deutscher Kaiser begins producing armaments for the First World War. To compensate for labor shortages, women, civilians from Belgium, and prisoners of war work for the company.

===Weimar Republic (1918–1933)===
'''Krupp'''
* 1919: After the [[Treaty of Versailles]], Krupp reverts to peace-time production focusing on the manufacture of locomotives, trucks, agricultural machinery, and excavators. The post-war circumstances of inflation, occupation, and dismantling of the company's industrial infrastructure led to a financial crisis in 1924/25. The company stabilizes by, among other measures, streamlining processing operations and expanding stainless steel production.
* 1926: Sintered tungsten carbide was developed by [[Osram]] as a material for machining metal. In 1925, Krupp buys the licence and launches sintered carbide onto the market, exploiting its exceptional hardness and wear resistance, which represents a breakthrough in tool engineering.
* 1929: A 15,000-ton forging press goes into operation in [[Borbeck-Mitte|Essen-Borbeck]]. It is at the time the largest worldwide.

'''Thyssen'''
* 1919: The company is renamed from Gewerkschaft Deutscher Kaiser to August Thyssen-Hütte; Gewerkschaft and mining operations are transferred to an independent company, Gewerkschaft Friedrich Thyssen. The company's foreign interests in the Allied and Soviet countries are expropriated.
* 1926: Major parts of the Thyssen group are transferred to a newly merged group, [[Vereinigte Stahlwerke AG]], bringing together several coal and steel companies in the [[Ruhr]] area to solve cost and production problems of excess capacities. August Thyssen dies at Schloss Landsberg near [[Essen]]. His sons Fritz Thyssen and Heinrich Thyssen-Bornemisza inherit the industrial enterprises. His other two children, Hedwig and August Jr., are compensated differently.

===Nazi Germany (1933–1945)===
'''Krupp'''
* 1930-1933:  Thyssen and Krupp were among the industrialists who originally saw Hitler's movement as flawed and stayed away. It was during this period, however, they and others were persuaded to assist the Nazi movement or face threats.  And thus in the end, both contributed greatly to the Nazi political and war efforts.   (Shirer, William, "The Rise and Fall of the Third Reich.")

* 1937: As dictated by Hitler's [[Four-Year Plan]], production of locomotives, trucks, and ships was expanded and armaments production resumed.
* 1941: Krupp Germania shipyard was extended with the acquisition of Deutsche Schiff- und Maschinenbau AG "Deschimag" to include larger ships and submarines. Krupp took advantage of foreign labourers, [[slavery|slave labourers]], prisoners of war, and Jews to compensate for labour shortages. It is estimated that a total of 100,000 people were forced to work by the company. Moreover, it had a workshop near the [[Auschwitz concentration camp|Auschwitz]] complex. Due to the company's involvement in the war, [[Alfried Krupp von Bohlen und Halbach]] was then convicted for [[crimes against humanity]] and received a sentence of 12 years imprisonment during [[Krupp trial|The United States of America vs. Alfried Krupp]], et al., trial of 8 December 1947 – 31 July 1948.<ref>{{Cite web|url=https://www.loc.gov/services/federal-research-division/about-this-service/|title=About this Service &#124; Federal Research Division &#124; Services &#124; Library of Congress|website=Library of Congress, Washington, D.C. 20540 USA|accessdate=7 April 2023}}</ref>

'''Thyssen'''
* 1934: The company August Thyssen-Hütte AG is spun off the Vereinigte Stahlwerke AG as a so-called operating company.
* 1939: [[Fritz Thyssen]], chairman of the Board of Vereingte Stahlwerke AG, flees to [[Switzerland]] after the invasion of [[Poland]]. Vichy France hands over Thyssen and his wife to the [[German Reich]] at the end of 1940.
* 1940: A rearmament policy is introduced by the Nazis in the mid-1930s and with the outbreak of war, labor is conscripted and supplemented by foreign workers, slave laborers, and prisoners of war.
* 1945: Thyssenhütte mill in Hamborn occupied by US troops.

[[File:Thyssen-Krupp-Quartier-Essen-Q1-2013.jpg|thumb|Corporate headquarters in [[Essen|Essen, Germany]]]]
[[File:Thyssen Krupp Hochhaus in Düsseldorf (vom Hofgarten aus).jpg|upright=0.5|thumb|Former Thyssenkrupp building in [[Düsseldorf]]]]
[[File:ThyssenKrupp Test Tower, Rottweil.jpg|thumb|upright|ThyssenKrupp [[elevator]] [[Rottweil Test Tower|test tower]] (246m)<ref>See German Wikipedia: [[:de:Thyssenkrupp Testturm|Thyssenkrupp Testturm]]</ref> near [[Rottweil|Rottweil, Germany]] (2018)]]

===Mergers and acquisitions===
During a period of expansion in 1978, [[Thyssen AG]] entered the North American automotive industry with the acquisition of [[Budd Company|Budd]]'s automotive operations,<ref>{{cite web|url=http://www.Thyssenkrupp.com/en/konzern/geschichte_chronik_t1978.html|title=Internationalization and further vertical diversification – Bonn Republic – Thyssenkrupp AG|date=30 September 2013|work=Thyssenkrupp.com|url-status=dead|archive-url=https://web.archive.org/web/20150626140840/http://www.Thyssenkrupp.com/en/konzern/geschichte_chronik_t1978.html|archive-date=26 June 2015}}</ref> which became the automotive division of Thyssen and operated in North America as Budd Thyssen, later ThyssenKrupp Budd Incorporated. In October 2006, ThyssenKrupp sold ThyssenKrupp Budd's North American body and chassis operations to [[Martinrea International]] Inc.<ref>{{cite web|url=http://www.americanmachinist.com/304/News/Article/False/38615/|title=Thyssenkrupp Budd to sell North American automotive body operations|work=americanmachinist.com|url-status=dead|archive-url=https://web.archive.org/web/20120401165834/http://www.americanmachinist.com/304/News/Article/False/38615/|archive-date=1 April 2012}}</ref>

In 1988, ThyssenKrupp acquired German shock absorber manufacturer Bilstein, when it became a division until 2005, when it became a wholly owned subsidiary.<ref>{{Cite web|url=https://bilstein.com/en-us/|title=BILSTEIN Corporate|website=BILSTEIN|accessdate=7 April 2023}}</ref> In 1991, ThyssenKrupp acquired German company [[Hoesch AG]]. In 1999, Thyssen (one of the companies of the merger to form Thyssenkrupp Elevator) acquired the [[elevator]] division of American-based conglomerate [[Dover Corporation]]. Four years later, ThyssenKrupp acquired the Korean-based Dongyang Elevator.

In 2005, ThyssenKrupp acquired [[Howaldtswerke-Deutsche Werft]] (HDW) in [[Kiel]] from [[One Equity Partners]].  [[One Equity Partners]] holds 25% of the TKMS shares. In December 2005, ThyssenKrupp acquired 60% of [[Atlas Elektronik]] from [[BAE Systems]], with [[EADS]] acquiring the remaining 40%.

In August 2007, ThyssenKrupp Materials North America acquired OnlineMetals.com, a small-quantity distributor of semi-finished metals and plastics based in [[Seattle]].<ref>"ThyssenKrupp Materials NA acquires OnlineMetals.com" 
[https://www.thyssenkrupp.com/en/newsroom/press-releases/thyssenkrupp-materials-na-acquires-onlinemetals-com-1875.html ThyssenKrupp] 17 August 2007.<br />
{{cite web|url=http://www.onlinemetals.com/aboutus.cfm|title=The Story of OnlineMetals.com|work=onlinemetals.com}}</ref> In early 2008, ThyssenKrupp Aerospace acquired Apollo Metals and Aviation Metals, both suppliers to aerospace and defence based in [[Kent, Washington]].

In 2011, ThyssenKrupp sold [[XERVON]] to [[Remondis]].<ref>{{cite press release|url=https://www.reuters.com/article/business/thyssenkrupp-sells-xervon-to-germanys-remondis-idUSTRE77M1S8/|title=ThyssenKrupp sells Xervon to Germany's Remondis|date=23 August 2011|agency=Reuters}}</ref>  

In June 2012, ThyssenKrupp sold Thyssenkrupp Waupaca to KPS Capital Partners. ThyssenKrupp Waupaca is a tier two supplier to the automotive industry, located in [[Waupaca, Wisconsin]]. In April 2014, ThyssenKrupp announced it was in talks to sell its [[Swedish Armed Forces|Swedish]] maritime defence unit to [[Saab Group|Saab]] after failing to agree deals with the Swedish government for a new generation of submarines.<ref>{{cite news| url= https://www.reuters.com/article/us-Thyssenkrupp-sweden-shipyard-idUSBREA3D11P20140414| title= Thyssenkrupp in talks to sell Swedish naval shipyard to Saab|author1=Mia Shanley  |author2=Bjorn Rundstrom  |name-list-style=amp | publisher=Reuters | date=15 April 2014}}</ref>

ThyssenKrupp Access, the global manufacturer of home elevators, wheelchair lifts, and stairlifts, has linked up with Chennai-based Indian Company Elite Elevators. The company has launched luxury home elevators segments targeting [[HNI]] Clientele<ref>{{Cite web|url=https://www.eliteelevators.com/|title=Home Elevators India &#124; Residential Lifts – Elite Elevators ®|website=Elite Elevators – No 1 Domestic Home Lifts & Platform Elevators India|accessdate=7 April 2023}}</ref> to launch high-end elevators in [[India]].<ref>[https://www.thehindubusinessline.com/companies/Thyssenkrupp-access-unveils-highend-home-elevator/article9937311.ece Thyssenkrupp Access unveils high-end home elevator]</ref> In June 2018, Thyssenkrupp signed a final agreement with India's [[Tata Steel]] to establish a long-expected steel venture. The 50-50 joint venture was called Thyssenkrupp Tata Steel and it became the second-largest steel producer in Europe, after [[ArcelorMittal]].<ref name="uk.reuters.com">{{Cite web|url=https://www.reuters.com/|title=Reuters|website=Reuters|accessdate=7 April 2023}}</ref>

In 2018, ThyssenKrupp announced that the company would split into two companies, ThyssenKrupp Industrials and ThyssenKrupp Materials, but this plan was cancelled in May 2019.<ref>{{Cite news|url=https://www.wsj.com/articles/thyssenkrupp-abandons-planned-split-pursues-ipo-11557486499|title=Thyssenkrupp Abandons Planned Split, Pursues Elevator-Unit IPO|last=Bender|first=Ruth|date=10 May 2019|work=Wall Street Journal|access-date=16 May 2019|language=en-US|issn=0099-9660}}</ref>

On 1 October 2023 the firm instituted a green energy division, Decarbon Technologies, to develop its energy solutions.<ref>Christoph Steitz and Lisa Shumaker. (14 September 2023). "Thyssenkrupp creates green tech division, launches performance programme". [https://www.reuters.com/sustainability/thyssenkrupp-creates-green-tech-division-launches-performance-programme-2023-09-14/ Reuters website] Retrieved 24 September 2023.</ref>

===Divestments and Restructures of Steel Business===

====Steel Europe====
In September 2017, ThyssenKrupp and India-based Tata Steel announced plans to combine their European steel-making businesses. The final agreement was signed in June 2018. The deal would have structured the European assets as ThyssenKrupp Tata Steel, a 50–50 joint venture headquartered in [[Amsterdam]] and created the second-largest steel producer in Europe.<ref name="uk.reuters.com"/><ref name="wsj-zeke">{{cite news|url=https://www.wsj.com/articles/Thyssenkrupp-tata-clinch-european-steel-deal-1505891598|title=Thyssenkrupp, Tata Seal Long-Awaited European Steel Deal|last1=Turner|first1=Zeke|date=20 September 2017|work=[[The Wall Street Journal]]|access-date=21 September 2017|last2=Patterson|first2=Scott|location=New York City, New York, United States}}</ref> The merger was finally prohibited by the EU Commission in 2019 for competitive concerns.<ref>{{Cite web|title=Press corner|url=https://ec.europa.eu/commission/presscorner/home/en|access-date=23 March 2021|website=European Commission – European Commission|language=en}}</ref>

====Steel Americas====

On 11 May 2007, ThyssenKrupp AG invested €3.1 billion (increased to $4.6 billion in 2010) for a project consisting of building new carbon steel and stainless steel processing facilities in [[Calvert, Alabama]] about 40 miles north of [[Mobile, Alabama|Mobile]]. The project, along with a multibillion-dollar greenfield steel-making facility in [[Brazil]], was a cornerstone of ThyssenKrupp's new global expansion strategy into the North American steel markets.<ref>{{cite web |url=http://www.Thyssenkrupp.com/en/presse/art_detail.html&eid=TKBase_1178868417679_1659377840 |title=Press release |date=3 December 2014 |publisher=Thyssenkrupp AG |access-date=18 February 2022 |archive-date=3 March 2016 |archive-url=https://web.archive.org/web/20160303193605/http://www.thyssenkrupp.com/en/presse/art_detail.html%26eid%3DTKBase_1178868417679_1659377840 |url-status=dead }}</ref> The carbon steel and stainless steel companies were independent and operated under different management teams. Co-locating both facilities on the same site enabled the company to optimize the investment in infrastructure and in some shared processing.

Additionally, the Alabama State Port Authority invested over $100 million to build a state-of-the-art transloading slab terminal on the southern tip of Pinto Island in [[Mobile Bay]] to service the inbound raw material slabs for the upriver carbon steel facility. The terminal was necessary since the Tombigbee River depth and lack of [[turning basin]]s prohibit deep draft ship navigation to the site in Calvert.<ref>{{Cite web |url=http://www.asdd.com/pdf/news_05152007.pdf |title=Alabama State Port Authority to Build New Steel Terminal |access-date=14 July 2011 |archive-date=19 November 2010 |archive-url=https://web.archive.org/web/20101119150726/http://asdd.com/pdf/news_05152007.pdf |url-status=dead }}</ref>

The world steel industry peaked in 2007, just as the company spent $12 billion to build the two most modern mills in the world, in Alabama and Brazil. The worldwide Great Recession started in 2008. Heavy cutbacks in construction combined with sharply lowered demand, and prices fell 40%. ThyssenKrupp lost $11 billion on its two new plants, which sold steel below the cost of production. ThyssenKrupp's stainless steel division, Inoxum, including the stainless portion of the US plant, was sold to [[Economy of Finland|Finnish]] stainless steel company [[Outokumpu]] in 2012.<ref>{{cite news|title=New owners of ThyssenKrupp stainless steel division plan visit in June |work=Press-Register |date=31 May 2012 |url=http://blog.al.com/press-register-business/2012/05/new_owners_of_Thyssenkrupp_sta.html |access-date=15 June 2013}}</ref> Finally in 2013, ThyssenKrupp offered the remaining portion of the plant for sale at under $4 billion.<ref>John W. Miller and Ike Henning, "Thiessen gets offers for mills: Final bids for steel complexes in Alabama, Brazil will likely fall short of the company's hopes", ''[[The Wall Street Journal]]'' 1 March 2013</ref> They sold it to ArcelorMittal and [[Nippon Steel]] the following year for $1.55 billion.<ref>{{Cite web|url=http://www.al.com/business/index.ssf/2014/02/thyssenkrupp_no_more_calvert_s.html|title=ThyssenKrupp no more, Calvert steel processing plant gets a new name after acquisition|last=II|first=Michael Finch|website=AL.com|date=28 February 2014 |language=en-US|access-date=16 December 2018}}</ref>
In February 2017, it agreed to sell its Brazilian steel business CSA to Ternium for €1.5 billion. The two transactions meant that Thyssenkrupp fully parted from the Steel Americas business.<ref>{{Cite news|url=https://www.ft.com/content/1c94983c-f911-11e6-9516-2d969e0d3b65|title=Thyssenkrupp sells Brazilian steel business|date=23 February 2017|work=Financial Times}}</ref>

====ThyssenKrupp Tailored Blanks====
In September 2012, ThyssenKrupp agreed to sell the automotive components manufacturer Tailored Blanks to the [[Wuhan Iron and Steel Corporation]], based in [[China]] for an undisclosed price.<ref name=reut28912>{{cite news|url=http://in.reuters.com/article/us-Thyssenkrupp-tailoredblanks-idINBRE88R0A920120928|archive-url=https://web.archive.org/web/20161005073948/http://in.reuters.com/article/us-thyssenkrupp-tailoredblanks-idINBRE88R0A920120928|url-status=dead|archive-date=5 October 2016|title=Thyssenkrupp to sell Tailored Blanks to WISCO|access-date=30 September 2012|publisher=Reuters|date=28 September 2012}}</ref> At the time of the agreement Tailored Blanks had annual sales of around 700 million euros and a global market share of about 40 percent in automotive laser-welded blanks.<ref name=reut28912/>

====ThyssenKrupp Elevator====

[[File:Thyssenkrupp_Elevator_AG_Logo_2021.svg|thumb|TK Elevator logo]]
In April 2015, ThyssenKrupp announced it would invest more than €800 million in the North American region by 2020 to take advantage of the economy's reindustrialization.<ref>{{cite web|author= Georgina Prodhan|url= https://www.reuters.com/article/us-Thyssenkrupp-northamerica-idUSKBN0NF1DT20150424 |title= Thyssenkrupp to invest $866 million in North America |publisher=Reuters |date=24 April 2015 |access-date=29 April 2015}}</ref> In February 2020, ThyssenKrupp AG's board announced that it would sell its elevator segment to [[Advent International]], [[Cinven]], and RAG foundation for $18.9 billion.<ref>{{Cite web |url=https://www.industryweek.com/leadership/growth-strategies/article/21124337/thyssenkrupp-sells-elevator-business-for-19b-to-privateequity-group |title=StackPath |website=IndustryWeek.com |date=27 February 2020 |access-date=28 February 2020 }}</ref> The transaction closed in July 2020, and the new stand-alone company was named {{Ill|TK Elevator|fr||de}}.

==Financial data==
{| class="wikitable"
|+'''Financial data in € billions'''<ref>{{Cite web|url=https://www.wallstreet-online.de/aktien/thyssenkrupp-aktie/bilanz|title=ThyssenKrupp Bilanz, Gewinn und Umsatz {{!}} ThyssenKrupp Geschäftsbericht {{!}} 750000|website=wallstreet-online.de|access-date=5 November 2018}}</ref><ref>{{Cite web|url=https://www.statista.com/statistics/263518/revenue-of-thyssenkrupp/|title=ThyssenKrupp – net sales 2021–2022|website=Statista|accessdate=7 April 2023}}</ref><ref>{{Cite web|url=https://www.macrotrends.net/stocks/charts/TYEKF/thyssenkrupp-ag/net-income|title=ThyssenKrupp AG Net Income 2012–2022 &#124; TYEKF|website=www.macrotrends.net|accessdate=7 April 2023}}</ref>
!Year
!2013
!2014
!2015
!2016
!2017
!2018
!2019
!2020
!2021
!2022
!2023
!2024
|-
|[[Revenue]]
|38.559
|41.304
|42.778
|39.263
|41.447
|42.745
|41.996
|28.889
|34.016
|41.140
|37.535
|35.041
|-
|[[Net Income]]
| −1.589
| 0.009
| 0.279
| 0.261
|0.271
| −0.060
| −0.260
| −5.541
|−0.019
|1.136
|−2.072
|−1.506
|-
|[[Assets]]
|35.304
|36.045
|35.694
|35.072
|35.048
|34.426
|36.475
|36.490
|39.580
|40.123
|35.356
|31.060
|-
|Employees
|156,856
|160,745
|154,906
|156,487
|158,739
|161,096
|162,372
|103,598
|101,275
|96,494
|99,981
|98,120
|}

==Carbon footprint==
ThyssenKrupp reported Total [[carbon footprint|{{CO2}}e emissions]] (Direct + Indirect) for the twelve months ending 30 September 2020 at 22,700 Kt (−1,400 /-5.8% y-o-y).<ref name ="Thyssenkrupp Total CO2e emissions for 2020Q3">{{Cite web |title=Thyssenkrupp's ESG Datasheet for 2020Q3 |archive-url=https://web.archive.org/web/20210118014030/https://www.thyssenkrupp.com/en/company/sustainability/environment/energy |url=https://www.thyssenkrupp.com/en/company/sustainability/environment/energy|archive-date=18 January 2021 }} [https://analytics.exerica.com/App/Name/Thyssenkrupp/Total%20CO2e%20Emissions%20-%20Location-Based%20Scope%201%20%2b%20Scope%202/2020Q3/12 Alt URL]</ref>

{| class="wikitable"
|+ Thyssenkrupp's annual Total [[carbon footprint|{{CO2}}e emissions]] (Direct + Indirect) (in kilotonnes)
|-
! Sep 2018 !! Sep 2019 !! Sep 2020
|-
| 24,000<ref name="Thyssenkrupp Total CO2e emissions for 2020Q3"/> || 24,100<ref name="Thyssenkrupp Total CO2e emissions for 2020Q3"/> || 22,700<ref name="Thyssenkrupp Total CO2e emissions for 2020Q3"/>
|}

==Employees==
{{As of|2020|post=,}} the company had over 100,000 employees worldwide. After a financial struggle in 2020, and a loss of over €5.5 billion, ThyssenKrupp announced that it will be cutting over 11,000 jobs, 7,000 of which are located in [[Germany]].<ref name="2020 struggle">{{cite news |url=https://www.ft.com/content/584d0d18-8516-4232-ad7d-9a2d7cbb7bf6 |title=Thyssenkrupp to cut 5,000 more jobs after slumping to €5.5bn loss |work=[[Financial Times]] |first=Joe |last=Miller |date=19 November 2020 |access-date=19 November 2020 }}</ref>

In November 2024, Thyssenkrupp announced it would lay off around 5,000 jobs at its steel subsidiary by 2030 and outsource a further 6,000 jobs.<ref>{{Cite web |title=German steel giant ThyssenKrupp to slash 11,000 jobs – DW – 11/25/2024 |url=https://www.dw.com/en/german-steel-giant-thyssenkrupp-to-slash-11000-jobs/a-70880227 |access-date=2024-11-25 |website=dw.com |language=en}}</ref>

==Products and sales==
ThyssenKrupp generates 33% of its consolidated sales in its home market. The rest of the [[European Union]] (EU) (28%) and the [[United States–Mexico–Canada Agreement|USMCA]] region (21%) are the key trading partners for business and exports outside Germany.

==Business areas==
The operations are organized in five business areas:<ref>{{cite web|url=http://www.Thyssenkrupp.com/de/konzern/business-areas.html|title=Business Areas|date=20 November 2014|work=Thyssenkrupp.com}}</ref>
* Components technology
* Elevator technology
* Industrial machinery
* [[Thyssenkrupp Materials Services|Materials services]]
* Steel

Construction of the corporate headquarters began in 2007. The first buildings were complete in 2010; the second phase of the building was completed in June 2015. Situated in the west of Essen, the corporate campus was designed by Chaix & Morel et associeés ([[Paris]]) and JSWD Architekten ([[Cologne]]). Their design was selected for construction in an [[architectural design competition]]<ref>{{Cite web|url=https://www.phase1.de/projects_Thyssenkrupp-competition_home_e.htm|title=[phase eins]. – ThyssenKrupp Quartier in Essen – Architectural competition|website=www.phase1.de|accessdate=7 April 2023}}</ref> in 2006.

==Controversies==

===Price fixing===
In November 2006, five [[elevator]] manufacturers including ThyssenKrupp, were found guilty of [[price fixing]] by the EU, over nine years,<ref name="Pfix">"Elevator makers fined $1.3B for price-fixing" (news), Purchasing.com – Reed Business Information, Feb. 2007, webpage: [http://www.purchasing.com/article/CA6418053.html Purchcom-8053]{{Dead link|date=August 2023 |bot=InternetArchiveBot |fix-attempted=yes }}.</ref> along with competitors [[Otis Elevator|Otis Elevator Co.]], [[Schindler Group]], [[Kone]], and [[Mitsubishi Electric|Mitsubishi Elevator Europe]]. On 21 February 2007, ThyssenKrupp was fined €479 million by the EU (Otis was fined $US295 million).<ref name=Pfix/> The EU Competition Commission reported that the companies had worked to [[Bid rigging|rig bid]]s for procurement contracts, share markets, and fix prices between at least 1995 and 2004.<ref name=Pfix/> The Commission reported that the companies "did not contest the facts" found by EU regulators, noting none of the accused requested a hearing to answer the allegations. The fines totaled US$1.3 billion.<ref name=Pfix/>

In July 2012, the German Bundeskartellamt served fines totalling €124.5 million on ThyssenKrupp GfT Gleistechnik GmbH, Essen (€103m); Stahlberg Roensch GmbH, Seevetal, which since 2010 belongs to the Vossloh group (€13m); TSTG Schienen Technik GmbH & Co. KG, Duisburg, a subsidiary of the Voestalpine group (€4.5m); and Voestalpine BWG GmbH & Co. KG, Butzbach, another Voestalpine subsidiary (€4m) for price-fixing of steel railway lines and points blades supplied to Deutsche Bahn, the German state railway. According to Andreas Mundt, president of the Bundeskartellamt, "For many years the rail suppliers have guaranteed each other virtually constant shares of Deutsche Bahn's contract volume. The cartel members monitored compliance with the contract volume quotas, assigned each other projects, and set protective prices in order to steer the contract award process." The proceedings had been triggered by an application for leniency filed by the Austrian company Voestalpine AG. Investigations into further companies are ongoing.

===Turin plant fire and trial===
On the early morning of  6 December 2007, an accident on the annealing and pickling line of the ThyssenKrupp plant in [[Turin|Turin, Italy]], caused the death of seven [[steelworker]]s.<ref name="aidic.it">[http://www.aidic.it/cet/12/26/103.pdf The Thyssen Krupp Accident in Torino: Investigation Methods, Accident Dynamics and Lesson Learned 2012], p 615-620</ref> The accident happened between 00:45 and 00:48, when the eight workers that were then on duty attempted to extinguish a localized small pool fire with {{CO2}} fire extinguishers and a fire hydrant, without success. About 400L of hydraulic oil escaped during the rupture of a hydraulic circuit which caused a violent [[jet fire]] engulfing the workers that were fighting the fire.<ref name="aidic.it" />

CEO Espenhahn was charged by the State prosecutor of Turin with "voluntary multiple murder with possible malice" ("omicidio volontario multiplo con dolo eventuale"), while five other managers and executives have been charged with "culpable murder with conscious guilt".<ref>{{cite news |title= Thyssen, a processo i sei imputati, "Fu omicidio volontario"|url= http://www.corriere.it/cronache/08_novembre_17/thyssen_rinvio_giudizio_f53b5f78-b4c7-11dd-adce-00144f02aabc.shtml|work= Corriere.it|date= 17 November 2008|access-date=6 May 2009| language = it}}</ref> On Friday 15 April 2011, Espenhahn and all the other indictees were pronounced guilty of all charges; he was sentenced to 16 years and 6 months in jail and barred from holding public office for life. Prior to the court case, Espenhahn was transferred from Italy and is now believed to live in Brazil. On 23 February 2013, the [[Appellate Court]] changed the sentence for him to culpable murder, not recognizing the voluntary murder, thus reducing the conviction. Convictions for the other managers were also reduced.{{citation needed|date=November 2017}}

In May 2016, the appeal court reduced the sentence for Espenhahn to 9 years and 8 months, the other 5 managers (4 Italians and 1 German) between 6 and 7 years. Priegnitz the German manager, was sentenced to 6 years and 3 months.<ref name=":0">{{Cite news|url=https://www.n-tv.de/wirtschaft/Italiener-wollen-Deutsche-in-Haft-sehen-article20083991.html|title=Tödlicher Brand bei Thyssenkrupp: Italiener wollen Deutsche in Haft sehen |date=15 October 2017|newspaper=n-tv.de|access-date=29 November 2017}}</ref> According to the bilateral laws between Germany and [[Italy]], the convicted can serve the term in his home country and with accordance to this countries' laws. Since accounts of first-degree murder have been appealed down to aggravated negligent manslaughter, the German convicts are expecting further reductions that would eventually not exceed 5 years.<ref name=":0" />

====Bribery and conflict of interest====
ThyssenKrupp is suspected of corruption in deals made in [[Case 3000|Israel]], [[Turkey]], [[South Africa]] and also in [[Pakistan]], where the deal did not mature. In [[Greece]], the defense minister [[Akis Tsochatzopoulos]] was sentenced to prison for accepting a bribe from a consortium in which one of the members was ThyssenKrupp.<ref>{{Cite news|date=5 December 2019|title=Israeli prosecutors announce charges over submarine deal with Germany|language=en|work=Reuters|url=https://in.reuters.com/article/us-israel-germany-submarines-idUSKBN1Y91UP|access-date=5 November 2020}}{{dead link|date=September 2024|bot=medic}}{{cbignore|bot=medic}}</ref><ref>{{Cite web|date=25 January 2020|title=Bribery scandal on Greek Submarines Project|url=https://www.greekcorruption.dk/en/bribery-scandal-on-greek-submarines-project/|access-date=5 November 2020|website=greekcorruption.dk|language=en-GB}}</ref><ref>{{Cite news|last=אוני|first=אסף|date=29 March 2019|title=פרשת הצוללות: כך פיתחה טיסנקרופ תלות בישראל ובמצרים|work=Globes|url=https://www.globes.co.il/news/article.aspx?did=1001280086|access-date=5 November 2020}}</ref>

==Incidents==
ThyssenKrupp has been the target of major, organised hacking attacks on several occasions, attacking the company's trade secrets.
On 8 December 2016, it was disclosed the company was attacked in February of that year. Internally uncovered in April 2016, it took their IT team around six months to fix. The hack is thought to have originated from South-East Asia and was successful in retrieving information from various departments, including the plant engineering division.<ref>{{Cite news|url=https://thestack.com/security/2016/12/08/trade-secrets-stolen-from-Thyssenkrupp-in-major-hack/|title=Trade secrets stolen from Thyssenkrupp in major hack|date=8 December 2016|newspaper=The Stack|language=en-GB|access-date=8 December 2016}}</ref> In 2012, ThyssenKrupp and other European companies were attacked by Chinese hackers.<ref>{{Cite news|url=https://www.reuters.com/article/net-us-eads-Thyssenkrupp-hacking-idUSBRE91N07M20130224|title=EADS, Thyssenkrupp attacked by Chinese hackers: report|date=24 February 2017|newspaper=Reuters|access-date=8 December 2016}}</ref>

On August 15, 2024, a fire broke out at the Thyssenkrupp warehouse in Völklingen. The building where plastic products and solar panels were stored caught fire. Smoke from the burning warehouse was visible from Saarbrücken, 15 kilometers away. 200 firefighters fought the fire for more than 30 hours. The roof of the building collapsed.<ref>{{Cite web|url=https://www.bild.de/regional/saarland/brand-bei-thyssenkrupp-in-voelklingen-lagerhalle-eingestuerzt-66bdc6770d129774288a4039|title=Thyssenkrupp-Halle brennt seit mehr als 30 Stunden|language=de|date=2024-08-16|website=[[Bild]]}}</ref>

==See also==
{{Portal|Companies}}
* [[List of steel producers]]
*[[List of conglomerates]]
* [[List of elevator manufacturers]]
*[[Transrapid]]
*[[Shanghai Maglev Train]]
*[[South African Arms Deal]]
*[[Dolphin-class submarine]]
*[[Eclipse (yacht)]]

==References==
* [[Harold James (historian)|James, Harold]]. ''Krupp: A History of the Legendary German Firm''. Princeton, NJ: Princeton University Press, 2012. {{ISBN|9780691153407}}.

==Notes==
{{Reflist|30em}}

==External links==
{{Commons}}
*{{Official website|https://www.thyssenkrupp.com/en/home}}
*[https://www.tkelevator.com/global-en/ TK Elevator Official website]
*[https://www.Thyssenkrupp-system-engineering.com/ Thyssenkrupp System Engineering]
*[https://www.bilstein.com/ Bilstein (international)]

{{ThyssenKrupp}}
{{Krupp}}
{{Authority control}}

{{DEFAULTSORT:Thyssenkrupp}}
[[Category:ThyssenKrupp| ]]
[[Category:Conglomerate companies of Germany]]
[[Category:Multinational companies headquartered in Germany]]
[[Category:Steel companies of Germany]]
[[Category:Steel companies of Italy]]
[[Category:Conglomerate companies established in 1999]]
[[Category:Manufacturing companies established in 1999]]
[[Category:Vehicle manufacturing companies established in 1999]]
[[Category:1999 establishments in Germany]]
[[Category:German brands]]
[[Category:Price fixing convictions]]
[[Category:Companies in the MDAX]]