Thyssenkrupp to spend high triple-digit million euro sum on steel - Reuters

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By Reuters Staff

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FILE PHOTO: A steel worker of Germany's industrial conglomerate ThyssenKrupp AG works near a blast furnace at Germany's largest steel factory in Duisburg, Germany, January 28, 2019. REUTERS/Wolfgang Rattay

DUESSELDORF (Reuters) - Thyssenkrupp plans to invest a high triple-digit million euro amount in its steel division to upgrade production sites in Duisburg and Bochum, it said on Wednesday.

The projects are scheduled to be completed by the end of 2024.

“Thyssenkrupp AG has now approved the funds for important investments in our production network,” said Bernhard Osburg, CEO of Thyssenkrupp Steel Europe.

“This is a strong signal for the steel business and a strong mark of confidence in difficult times.”

Reporting by Tom Kaeckenhoff; Writing by Christoph Steitz, editing by Kirsti Knolle

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