Stephen Simpson, CFA
Long only, growth at reasonable price, value, research analyst

Investors Seem Surprisingly Willing To Buy ThyssenKrupp's Weird Brew

Imaging putting together bits and pieces of United Technologies (NYSE:UTX), U.S. Steel (NYSE:X), Technip (OTCQX:TKPPY), TRW Automotive (NYSE:TRW), and Allegheny Technologies (NYSE:ATI) and you might end up with something that resembles German conglomerate ThyssenKrupp (OTCPK:TYEKF) (TKAG.DE). ThyssenKrupp is the third-largest steelmaker in Europe, but also a large player in metal marketing/logistics, elevators, large-scale plant construction, and vehicle components.

It has been a while since ThyssenKrupp has reported good earnings or margins, a byproduct of the same steel down-cycle that has hit ArcelorMittal (NYSE:MT) and Salzgitter, but management has made some curious moves with respect to asset sales and take-backs. Investors seem confident in this name...

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