The industrial sector is navigating a complex mix of headwinds and tailwinds, from geopolitical disruptions to booming demand for AI infrastructure. Within this landscape, Thyssenkrupp is executing a multi-faceted corporate overhaul, sending signals that extend beyond its core steel business currently under pressure.
A significant catalyst for the Essen-based conglomerate is a major order from South Korea. Thyssenkrupp Uhde has been commissioned by POSCO E&C to plan and supply a new coke oven battery for the POSCO steelworks in Pohang. This facility will replace an existing battery from the 1980s and integrates Uhde’s proprietary EnviBAT® technology, a system designed to lower emissions and optimize raw material use in the coking process. This technology is already operational in over 30 batteries and more than 2,100 ovens worldwide. The partnership between Uhde and POSCO dates back to the 1970s.
This international contract arrives as the European steel market faces intense pressure from cheap Asian imports. In response, Thyssenkrupp is temporarily shutting down its plant in Isbergues, France, from June to September. The broader industry awaits a critical EU decision on stricter import quotas and potentially doubled protective tariffs, expected in July.
Concurrently, the company is sharpening its portfolio. The sale of the Automation Engineering unit to Agile Robots SE was finalized at the beginning of April. Approximately 650 employees and ten sites in Europe and North America have transitioned, with the business now operating under the name “Krause Automation.” For Thyssenkrupp Automotive Technology, this move refocuses the division on four core areas: chassis systems, components, aftermarket, and forging.
On the innovation front, Thyssenkrupp is showcasing specialized steel products for the energy transition at the Tube trade fair in Düsseldorf (April 13-17). The focus is on H₂-optimized steels designed for resistance to hydrogen embrittlement and high fatigue strength, intended for safe hydrogen pipeline operation. This is complemented by its CO₂-reduced bluemint® Steel range.
In the background, the construction of the first direct reduction tower in Duisburg, which began in February 2026, continues. It has a planned capacity of 2.5 million tons of directly reduced iron per year and a potential CO₂ saving of up to 3.5 million tons.
For Thyssenkrupp’s share price, which recently traded at 8.54 euros—down nearly twelve percent year-to-date but about 19 percent above its March low—two near-term events are pivotal. The interim report on May 12 will provide the first figures on divestments. Medium-term, the largest variable remains a potential IPO for TK Elevator in the second half of 2026. The main owners are considering a valuation of up to 25 billion euros. Thyssenkrupp’s remaining 16.2 percent stake could generate significant capital inflow from such a transaction, funds earmarked for green steel production and debt reduction. Analysts’ average price target for the stock stands at 10.90 euros, with Jefferies seeing potential for 13 euros.
The company’s journey mirrors a wider divergence in the industrial sector. While firms tied to cyclical and commodity-dependent models struggle, others like 2G Energy are hitting record highs driven by demand for decentralized power for AI data centers. Logistics giants like DHL face direct pressure from the blockade of the Strait of Hormuz, which has rerouted shipping and increased costs. For Thyssenkrupp, the path forward hinges on successfully managing its core challenges while leveraging its technological divisions and unlocking value from its remaining assets.
