thyssenkrupp AG

The story of thyssenkrupp began in 1999 when two historic German steel giants, Thyssen AG and Krupp, merged to form a single multinational conglomerate. Based in Essen with major operations in Duisburg, the company transformed from traditional heavy industry into a diversified technology group. Today it employs over 87,000 people across 48 countries and manages roughly 670 subsidiaries worldwide.

Its business spans four main pillars: Steel Europe, Materials Services, Industrial Solutions, and Marine Systems. The division responsible for elevators and escalators is one of the largest globally, while the marine arm builds frigates, corvettes, and submarines for the German Navy and other international clients. Recent strategic moves include a shareholder-approved spin-off of the Materials Services division in August 2026 to sharpen focus on core industrial and defense technologies.

Financial performance in late 2026 showed resilience despite global headwinds. Adjusted EBIT rose in the third quarter driven by strong results in steel and naval sectors, prompting DZ Bank to upgrade its rating to Buy. The company also advanced talks regarding funding for a €3 billion green steel plant as it navigates the shift toward decarbonization. [edit]