German powerhouse Thyssenkrupp books $1 billion impairment on struggling steel unit
ThyssenKrupp(TKAMY) CNBC·2024-11-19 15:16
A general view of the gate of the Thyssenkrupp industrial area in Duisburg, Germany, on August 29, 2024. (Photo by Ying Tang/NurPhoto via Getty Images).Germany's Thyssenkrupp on Tuesday reported a 1-billion-euro ($1.06 billion) impairment on its struggling steel division as the industrial powerhouse flagged "gloomy volume" expectations and structural challenges in the sector.The firm said its net loss of 1.5 billion euros in the fiscal year ending Sept. 30 — after deducting minority interest — was mainly du ...