Heinrich Hiesinger aims to transform Thyssenkrupp into a technology group and is slowly cutting ties to its traditional steelmaking business, whose roots go back more than 200 years, after a recent merger deal with Tata Steel. Photo:Essen, Germany: German engineering and steel group Thyssenkrupp posted its highest order intake in five years on Thursday, boosted by record demand for its elevators and components for the car and construction sectors. Order intake rose 18% to €44.29 billion ($52.34 billion) in the group’s 2016/17 financial year. Adjusted earnings before interest and tax (EBIT) reached €1.91 billion, beating the €1.73 billion forecast in a Reuters poll. Hiesinger aims to transform Thyssenkrupp into a technology group and is slowly cutting ties to its traditional steelmaking business, whose roots go back more than 200 years, after a recent merger deal with Tata Steel.

Source: Mint November 23, 2017 09:22 UTC