DUESSELDORF, Germany (Reuters) -An professional opinion on the monetary wants of Thyssenkrupp (ETR:)’s crisis-hit metal division has given a optimistic view on its means to proceed as a going concern, the father or mother firm stated on Sunday. Thyssenkrupp stated in a written response to a Reuters question that on the premise of the report, the father or mother firm had made a financing dedication to safe the liquidity of the metal enterprise for the subsequent two years. “Because of this there may be now readability concerning the financing state of affairs of the metal division,” stated the corporate in its written response, confirming a report in Der Spiegel weekly.
Thyssenkrupp has commissioned two exterior studies to take a deep take a look at the metal enterprise’s short- and long-term monetary well being and wishes. The primary evaluate will feed into the second report, which can be used for future choices on the metal division and is due subsequent 12 months. Earlier this month, Thyssenkrupp stated it had written down the worth of its metal division by one other 1 billion euros ($1.04 billion), blaming the sector’s worsening outlook primarily on weak demand and Asian competitors. Thyssenkrupp is pursuing a 50:50 metal three way partnership with Czech billionaire Daniel Kretinsky however is looking for talks with different steelmakers in case that falls although after earlier makes an attempt to promote the division have failed in recent times.
($1 = 0.9600 euros)
