Word: thyssenkrupp
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...Siemens' decision to seek financial damages from former executives is a warning to the rest of German industry that such practices are under threat. The personalities involved make up a veritable A-Team of German management: Siemens' supervisory board is chaired by Gerhard Cromme, former CEO of German steelmaker ThyssenKrupp, and includes powerful business titans such as Josef Ackermann, the CEO of Deutsche Bank, and Michael Dieckmann, CEO of financial services giant Allianz AG. They were no doubt aware that a decision to go after previous execs Kleinfeld and particularly von Pierer - a former advisor to Chancellor Angela Merkel dubbed...
...Costa Rican firms and snapped up 20.5% of a Turkish steel company. By far its biggest move came on Dec. 23, when ceo Guy Dollé announced a $4.2 billion hostile takeover bid for Canada's leading steel producer Dofasco, topping an agreed offer by Germany's ThyssenKrupp. Arcelor is trying to reduce its heavy dependence on the European market that now accounts for 75% of its business. "Expansion into North America is a key strategic objective for Arcelor," Dollé explained. Arcelor's hyperactive end to the year was just part of a huge wave of mergers and acquisitions...
...into Duisburg's central train station, where she works as a cleaner, to find her co-workers slack-jawed with incredulity. They were staring at a fresh crop of campaign posters plastered on the station's walls. They portrayed her husband, Wolfgang, a steelworker and union shop steward at ThyssenKrupp Stahl, in his silver blast-furnace smock and hard hat. The real surprise was not the larger-than-life apparition of Herr Teusch and his frayed walrus moustache, but the poster's message: an endorsement from this lifelong Social Democrat of the opposition Christian Democratic Union...
...German steelmaker ThyssenKrupp AG, which has units in India and Thailand, says it will spend up to €2.5 million rebuilding hard-hit villages in Madras, India, and near Khao Lak beach in Phuket, Thailand. The company will also build an orphanage in each country and secure financing for the psychological care of youngsters there. "We want to show that we feel connected to these countries in which we have been active for decades," says ThyssenKrupp CEO Ekkehard Schulz. British American Tobacco's Sri Lankan division, Ceylon Tobacco Company, has pledged to rebuild a destroyed village, too. British American Tobacco...
...ThyssenKrupp...