ThyssenKrupp AG ADRGrey Market
TYEKY is defunct.
  • Jun. 30, 2014, 11:55 AM
    • Saab (SAABF) agrees to acquire ThyssenKrupp's (TYEKY, TYEKF) Swedish marine defense unit for 340M kroner ($50.5M), expanding its business to manufacturing submarines and stealth technology corvettes.
    • Saab and ThyssenKrupp have been in talks since April over the purchase, after the Swedish government said it wanted to ensure that it had domestic submarine-production capability.
    • Saab hasn't built manned submarines, although it has other naval activities, including production of unmanned underwater vehicles.
    | Jun. 30, 2014, 11:55 AM
  • Apr. 14, 2014, 9:11 AM
    • Saab (SAABF) says it is in preliminary talks to buy ThyssenKrupp's (TYEKY, TYEKF) Swedish shipyard, underscoring its bid to become a serious player in the submarine and naval ships business.
    • Neither company discloses the potential value of the deal, saying negotiations are at an early stage; ThyssenKrupp Marine Systems, formerly known Kockums, had a total revenue of 1.68B Swedish kroner ($256M) in 2013.
    • Saab, unaffiliated with the car company with the same name, is best known for building fighter jets and other defense systems.
    | Apr. 14, 2014, 9:11 AM | 1 Comment
  • Dec. 1, 2013, 2:35 AM
    • ThyssenKrupp (TYEKY, TYEKF) CEO Heinrich Hiesinger expects U.S. antitrust authorities to scrutinize his company's $1.55B sale of its troubled steel mill in Alabama to ArcelorMittal (MT) and Nippon Steel & Sumitomo Metal (NSSMY).
    • "Considering the already dominant market position of ArcelorMittal in the U.S. (auto steel) market, it is likely that authorities will take their time to look into this transaction," Hiesinger said.
    • ArcelorMittal doesn't expect to encounter problems getting the deal approved even though the company controls almost 40% of the market for North American auto steel.
    | Dec. 1, 2013, 2:35 AM
  • Nov. 19, 2013, 5:28 PM
    • ThyssenKrupp (TYEKY) said it is in exclusive negotiations on the sale of its Alabama steel plant. ArcelorMittal's (MT +0.6%) CFO recently expressed interest in the operation.
    • The German steelmaker has been shopping the plant, as well as its Brazilian mills, for over a year and a half - they have hurt its bottom line and sapped capital for years.
    | Nov. 19, 2013, 5:28 PM