Germany’s historic steelmaker ThyssenKrupp will be dissolved

The ThyssenKrupp Group decided to liquidate most of its holdings. The steelmaker with a history of over hundred years informed the sale and spin-off of its main operations. Steelemaking was in crisis since long and ThyssenKrupp was an ailing producer, always dependent on government support.

Steel production, trade, maritime construction, and car parts production will be sold or closed. The management informed that such activities do not make sense in Germany.

A tragic news for Germany. Not only that one of the historic main industries in Germany is closed, but also a strategic local producer for the cars, arms and machinery industry will disappear. ThyssenKrupp were the backbone of the German industry, as they were the backbone for Nazi-Germany’s war on the World.

In the last instance, the German Government may stop the liquidation for reasons of national security – which means a nationslization of those parts of ThyssenKrupp which do only make losses or are unreasonable to invest in. The UK had to take the same decision and saved the local steel industry for reasons of national security.