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Sunday, November 23, 2014

Thyssen CEO says sale of submarine unit possible

ThyssenKruppThyssenKrupp would consider a sale of the group's military submarine business under certain conditions, the German steel maker's chief executive told daily Sueddeutsche Zeitung.

"The precondition for any talks would be an offer that reflects the value of the business," the paper quoted Heinrich Hiesinger as saying. "This can't be based on a purely political decision or merely on another company's wishes."

Hiesinger added the group was under no pressure to sell because the shipyard was profitable and had an order backlog that would last for the next few years.

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