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ThyssenKrupp scraps railway unit sale after bids disappoint

  • ThyssenKrupp (TYEKY, TYEKF) says it will scrap the sale of its railway and construction business after failing to attract an acceptable bid; instead, the German steelmaker now plans to discontinue its railway equipment activities, selling some of its parts and closing some sites.
  • However, the company says the profitable construction equipment operations will remain within the materials services division and undergo a restructuring.
  • The planned disposal of the businesses, which have combined annual sales of ~€400M ($524M), was prompted by limited growth prospects in the German market and cost pressures.
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