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Thyssenkrupp Is Considering Splitting Into Two Companies

Company plans to divide industrial and material divisions
Shares rallied as much as 17% after the announcement

An employee loads a coil of strip steel for cleaning at the Thyssenkrupp Rasselstein GmbH steel packaging factory in Andernach, Germany.Photographer: Krisztian Bocsi/Bloomberg

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By Eyk Henning and William Wilkes

September 27, 2018 at 12:11 PM UTC

Updated on

September 27, 2018 at 4:22 PM UTC

This article is for subscribers only.

Thyssenkrupp AG surged the most in nine years after the company unveiled plans to split into two, separating its industrial and materials divisions in a sweeping overhaul of the German conglomerate.

One company, called Thyssenkrupp Industrials, will combine the elevator business, automotive supplies and plant construction. The other, called Thyssenkrupp Materials, will run steel, materials trading and steel-related processing operations.