Money Buzz! Europa

Tag: Thyssenkrupp

  • Thyssenkrupp to invest 6.2 million euros in Veszprem, Hungary

    Thyssenkrupp to invest 6.2 million euros in Veszprem, Hungary

    Thyssenkrupp AG will set up an engineering development hub with an investment of 2.2 billion forints (6.2 million euros) in the western Hungarian city of Veszprem, MTI reports.

    The Budapest government supports the investment with a grant of 770 million forints.

    Hungary ”has never had such a successful year” in terms of investment, given that the government provided last year assistance to 1,433 investment projects, the combined value of which amounts to 1.676 billion forints (4.6 billion). euro), Peter Szijjarto, Minister of Foreign Affairs and Trade, says.

    He added that the Government awarded a total of 472 billion forints in 2020 and 80% of the SMEs that have committed to investment projects are Hungarian businesses.

    Following the implementation of Government-supported projects, 12,603 ​​new jobs were created in 2020 and 264,595 jobs were retained.

  • Liberty Steel is interested in taking over the steel activities of Thyssenkrupp

    Liberty Steel is interested in taking over the steel activities of Thyssenkrupp

    Liberty Steel Group announced that it has made a non-binding indicative offer (NBIO) as part of a Thyssenkrupp-led process to acquire the steel activities of Thyssenkrupp.

    An agreement would combine Europe’s fourth and second-largest steelmaker and mark the latest attempt at large-scale consolidation after the planned joint venture between Thyssenkrupp and Tata Steel was blocked in 2019.

    Liberty Steel recently announced the acquisition of Hayange’s business in France, which produces railway rails, from British Steel.

    In July last year, Liberty Steel paid 740 million euros to take over a series of steelworks in the Czech Republic, Romania, Northern Macedonia, Italy and Belgium from the ArcelorMittal group.

    Liberty Steel is a global steel and mining business with annual revenues of about US$ 15 bn/ € 13 bn and 30.000 employees in more than 200 locations on four continents.