Germany: ThyssenKrupp announces new structure

摘要

AFTER reporting ThyssenKrupp's interim fiscal 2008/9 financial results on 13 May with finance director Alan Hippe, executive board chairman Ekkehard Schulz outlined structural changes in the steelmaker and automotive supplier's operational management, designed to save around {EUR}500m (US$680.5m) of material and personnel costs and make ThyssenKrupp a leaner and faster business. Noting that conditions had significantly worsened since the first quarter and that German crude steel output had just been reported to have fallen 53 year-on-year, Schulz reviewed the {EUR}1bn 'ThyssenKrupp PLuS' cost reduction programme first announced in the first quarter.