ThyssenKrupp Report Stable Order Intake In Difficult Environment

ThyssenKrupp one of Germany’s largest conglomerates as reported first quarter earnings of orders €10.1 billion up 1 percent. However sales €9.9 billion was down 1 percent. This slight drop was due declining volumes in their Materials business. This was because their customers were cautious due to the economic conditions brought on by the sovereign debt crisis particularly from declining volume at Steel Europe in the Materials Services. Subsidiary Steel Americas also suffered losses due to technical problems and a weaker market environment when reporting for the first quarter. However Dr. Heinrich Hiesinger ThyssenKrupp Executive Board Chairman expects losses at Steel Americas to be lower in the second half of the year.

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