thyssenkrupp

thyssenkrupp is a German industrial group created in March 1999 through the merger of Thyssen AG and Krupp. Its modern identity combines two industrial traditions that developed separately in the Ruhr region: Krupp, established in Essen in 1811 as a cast-steel producer, and the Thyssen business, whose origins reached back to the iron and steel operations established by August Thyssen in the late nineteenth century. Both groups expanded through vertical integration, engineering, mining, transport, shipbuilding and defense, becoming major participants in Germany's industrial development. The company operates through a portfolio rather than a single consumer-facing product category. Its activities have included flat and specialty steel, materials trading and distribution, elevator systems, automotive components, industrial plant and machinery, marine defense systems, high-speed transportation technology and services for industrial customers. Thyssenkrupp Marine Systems produces and supports naval vessels, including submarines, frigates and corvettes, for Germany and international customers. Other businesses supply steel and components to automotive, aerospace, construction, energy and manufacturing companies. Steel has remained central to the group, but it has also been the source of major strategic challenges. A large expansion into the United States and Brazil in the late 2000s produced substantial losses and led to the sale of the Alabama and Brazilian operations. The group subsequently pursued restructuring, divestments and portfolio simplification. A proposed combination of Thyssenkrupp's European steel operations with Tata Steel's European business was blocked by the European Commission in 2019 on competition grounds. In 2018 the company announced a planned separation into industrial and materials companies, but abandoned that design in 2019. The group's elevator business became one of its most valuable activities. In 2020, the elevator division was sold to a consortium led by Advent International and Cinven, with participation from the RAG-Stiftung. The transaction materially changed thyssenkrupp's portfolio and reduced its exposure to a highly profitable but capital-intensive business. The company has since emphasized materials, steel transformation, marine systems, automotive-related activities and industrial technology. In 2023, thyssenkrupp created Decarbon Technologies as a business area focused on technologies and equipment intended to support lower-carbon industrial production and energy systems. Its decarbonization agenda includes hydrogen-related solutions, green-steel technology and industrial engineering. The group continues to be headquartered operationally in Duisburg and Essen and remains listed in Germany. Its customers are primarily industrial and institutional rather than household consumers, although its elevators and mobility systems are encountered in buildings and public infrastructure worldwide.

The Krupp lineage began in 1811, when Friedrich Krupp established a cast-steel factory in Essen. Under his son Alfred Krupp and later generations, the business developed technologies and products for railways, heavy machinery, shipbuilding and armaments. Its growth was supported by vertical integration into coal, iron ore, transport and shipping. Krupp also developed stainless steel and large-scale forging capabilities, becoming one of Europe's most prominent engineering and steel enterprises. The Thyssen lineage emerged in the Ruhr during the nineteenth century. August Thyssen became associated with the Gewerkschaft Deutscher Kaiser coal mine in 1891 and developed an integrated iron and steel operation around it. Thyssen expanded through blast furnaces, rolling mills, mines, shipping and overseas trading. In 1926, important Thyssen assets were incorporated into Vereinigte Stahlwerke AG, a consolidation designed to address overcapacity and improve coordination in the German coal and steel sector. Both industrial groups participated in Germany's military economy during the Nazi period and used forced labor, including foreign deportees, prisoners of war and concentration-camp inmates. Krupp's wartime conduct led to the conviction of Alfried Krupp von Bohlen und Halbach in the postwar Nuremberg-era industrialist trial. The companies' wartime histories remain an important and controversial part of the group's institutional background. After 1945, the businesses were rebuilt, reorganized and redirected toward civilian production. Krupp returned to products such as locomotives, trucks, agricultural machinery and excavators, while Thyssen rebuilt its steel base. During the second half of the twentieth century, both groups diversified internationally through acquisitions and expansion into automotive components, elevators, materials distribution, engineering and shipbuilding. Thyssen acquired Hoesch in 1991, while Krupp and Thyssen increasingly cooperated in steel and other activities. The two companies combined their flat-steel operations in 1997 and completed their full merger in March 1999, creating ThyssenKrupp AG. The new group continued to expand in elevators, automotive supply, materials services, marine systems and North American steel. It acquired or developed businesses connected with Budd automotive operations, Bilstein, Dover's elevator division, Dongyang Elevator, HDW and Atlas Elektronik. A major late-2000s investment in steelmaking and processing facilities in Alabama and Brazil later generated heavy losses as market conditions deteriorated, leading to asset sales and strategic retrenchment. During the 2010s, thyssenkrupp attempted to reshape its portfolio. It sold or reorganized several industrial units, explored combinations for its European steel operations and announced a separation into industrials and materials companies. The proposed Tata Steel joint venture was ultimately prohibited by EU competition authorities in 2019, and the two-company split was abandoned the same year. In 2020 the group sold its elevator business, a transaction that removed a major standalone division and provided capital for restructuring. The post-elevator group has concentrated on steel, materials services, automotive and industrial components, marine systems and technology for lower-carbon production. In 2023 it created Decarbon Technologies to organize activities related to hydrogen, green steel and other energy-transition solutions. The company remains a German-listed industrial group with international subsidiaries and customers across manufacturing, infrastructure, defense and energy.

1. 2023Decarbon Technologies launched

   The group established a dedicated business area for decarbonization and energy-transition technologies.

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2. 2020Elevator division sold

   The elevator business was transferred to a consortium led by Advent International and Cinven.

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3. 2019EU blocks European steel merger

   The European Commission prohibited the proposed Thyssenkrupp-Tata Steel joint venture on competition grounds.

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4. 2018Tata Steel joint venture agreement signed

   Thyssenkrupp and Tata Steel signed a final agreement to combine their European steel operations.

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5. 2007North American steel expansion begins

   The group invested in new carbon-steel and stainless-steel facilities in Alabama as part of a broader American and Brazilian expansion.

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6. 2005HDW acquired

   Thyssenkrupp acquired Howaldtswerke-Deutsche Werft, strengthening its naval shipbuilding platform.

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7. 1999ThyssenKrupp formed

   The full merger of Thyssen AG and Krupp AG was completed in March.

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8. 1997Flat-steel activities combined

   Thyssen and Krupp combined their flat-steel operations before completing their broader corporate merger.

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9. 1991Hoesch acquired

   Thyssen acquired German steelmaker Hoesch AG as part of the consolidation of the German steel industry.

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10. 1891Thyssen enters integrated steel production

    August Thyssen became owner of the Gewerkschaft Deutscher Kaiser coal mine and developed an adjacent iron and steel operation.

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11. 1811Krupp cast-steel factory founded

    Friedrich Krupp established the cast-steel business in Essen that became the foundation of the Krupp industrial group.

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A diversified, engineering-led industrial group serving infrastructure, manufacturing, mobility, defense and energy customers, with a strategic emphasis on advanced materials and industrial decarbonization.

• Steel EuropeSteel

  Steel Europe produces and processes flat steel for automotive, construction, engineering, packaging and other industrial customers. Its portfolio includes carbon steel, coated products and advanced grades designed for demanding applications. The business is a central part of thyssenkrupp's historical identity and has been subject to extensive restructuring and decarbonization planning.

• Materials ServicesMaterials distribution

  Materials Services distributes steel, stainless steel, nonferrous metals, plastics and other industrial materials. In addition to physical distribution, it provides processing, supply-chain management, inventory and digital services for industrial customers. The division serves manufacturers and fabricators that require materials in specified dimensions, quantities and delivery schedules.

• Elevator TechnologyElevators and mobility

  The former Elevator Technology business supplied passenger and freight elevators, escalators, moving walks, stairlifts and related service systems. Its products served residential, commercial and infrastructure projects worldwide. The division was one of thyssenkrupp's best-known businesses but was sold in 2020 and is no longer part of the group's continuing portfolio.

• Thyssenkrupp Marine SystemsDefense and naval systems

  Thyssenkrupp Marine Systems designs, builds and supports naval platforms and systems, including conventional submarines, frigates and corvettes. It supplies Germany and foreign navies and provides lifecycle support, modernization and related maritime technologies. The business is one of the group's principal defense activities.

• Automotive TechnologyAutomotive components

  The automotive activities supply components and systems for vehicle manufacturers and major tier-one customers. Historically associated products have included body and chassis structures, springs, dampers, steering and powertrain-related components. The business reflects thyssenkrupp's long-standing role as an industrial supplier rather than a vehicle brand.

• Decarbon TechnologiesEnergy and industrial technology2023

  Decarbon Technologies organizes engineering and equipment activities aimed at reducing emissions from industrial production and energy systems. Its areas of interest include hydrogen, green-steel processes and technologies supporting industrial transformation. The division was established in 2023 as part of the group's response to climate and regulatory pressures.

• 2023Create Decarbon TechnologiesStrategy

  Industrial customers and regulators increasingly demanded lower-carbon production, while steel and heavy industry faced pressure to develop new processes.

  What changed. The group established Decarbon Technologies to bring together solutions for hydrogen, green steel and industrial energy transformation.

  Aftermath. Decarbonization became a more explicit organizing theme for thyssenkrupp's technology and engineering activities.

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• 2020Divest elevator businessM&A

  The elevator division was a major standalone business, while the group was under pressure to simplify its portfolio and strengthen its finances.

  What changed. The division was sold to Advent International and Cinven, with participation from the RAG-Stiftung.

  Aftermath. thyssenkrupp became more concentrated on steel, materials, automotive, marine systems and industrial technology.

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• 2019Cancel planned corporate splitStrategy

  The group had proposed separating its industrial businesses from its materials and trading activities into two companies.

  What changed. Thyssenkrupp abandoned the planned division into Thyssenkrupp Industrials and Thyssenkrupp Materials and pursued alternative restructuring.

  Aftermath. The company subsequently focused on portfolio reduction, divestments and business-level transformation.

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• 2018Agree to European steel joint venture with Tata SteelM&A

  European steel producers faced overcapacity, international competition and pressure to improve scale and efficiency.

  What changed. Thyssenkrupp and Tata Steel agreed to combine their European steel operations in an equal joint venture headquartered in the Netherlands.

  Aftermath. The European Commission prohibited the transaction in 2019, citing competition concerns.

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• 1947Krupp forced-labor and war-crimes historyControversy

  Krupp used forced labor during the Second World War, including foreign civilian workers, prisoners of war and concentration-camp inmates. Alfried Krupp von Bohlen und Halbach was convicted in the postwar Krupp trial for crimes against humanity. This history concerns the predecessor company and remains part of the historical record of the later Thyssenkrupp group.

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• 2023Thyssenkrupp establishes Decarbon Technologies

  The group created a business area dedicated to technologies supporting industrial decarbonization and the energy transition.

  Product launch
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• 2023Miguel López becomes chief executive

  Miguel López succeeded Martina Merz as chief executive as the group continued its restructuring and portfolio transformation.

  Leadership change
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• 2020Thyssenkrupp sells elevator business

  The elevator division was sold to a consortium led by Advent International and Cinven, with participation from the RAG-Stiftung.

  M&A
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• 2019European Commission prohibits Thyssenkrupp Tata Steel merger

  The European Commission blocked the proposed steel combination after concluding that the transaction would raise competition concerns in several markets.

  RegulationM&A
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• 2019Thyssenkrupp abandons planned industrials and materials split

  The group withdrew its plan to separate into two listed companies and instead pursued other portfolio and restructuring measures.

  Other
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• 2018Thyssenkrupp and Tata Steel agree European steel joint venture

  The companies signed a final agreement to combine their European steel activities in a 50–50 joint venture.

  M&A
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1. ThyssenKrupp
2. Thyssenkrupp management board
3. European Commission decision on the Tata Steel joint venture
4. Thyssenkrupp newsroom
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