Thyssenkrupp on Thursday said it agreed to sell its infrastructure unit to German investment firm FMC Beteiligungs KG for an undisclosed sum, the second deal in as many weeks as the German conglomerate implements its reorganisation plan. The deal, which is expected to close in the second half of the year, comes a week after Thyssenkrupp sold its mining equipment business to Denmark's FLSmidth. Both units are part of Thyssenkrupp's Multi Tracks division, which consists of businesses the steel-to-submarines group want to sell, restructure or close in a bid to focus on its most profitable divisions.
Thyssenkrupp is affected by supply chain disruptions at its suppliers, clients and logistics partners due to the floods that have hit western Germany, it said on Tuesday. "The flood disaster in Germany has so far had only a very minor direct impact on Thyssenkrupp's sites," the company said. "However, Thyssenkrupp is indirectly affected by disruptions to supply chains at individual suppliers, customers and logistics partners," it said, adding that disruptions on rail lines had cut off supplies of materials needed for manufacturing to individual locations and affected shipments to customers.
Thyssenkrupp is considering an initial public offering (IPO) or a deal with a special purpose acquisition company (SPAC) for its hydrogen business, Chief Executive Martina Merz said on Tuesday. A 66-34 joint venture of Thyssenkrupp and Italy's De Nora , Thyssenkrupp Uhde Chlorine Engineers (TKUCE) is the world's largest supplier of chlor-alkali membrane technologies used to produce hydrogen.