Thyssenkrupp Plans to End Conglomerate Era in Bid for Turnaround

Thyssenkrupp AG plans to transform itself into a holding company with majority stakes in standalone business units, marking the end of its era as a fully integrated industrial conglomerate.

The German engineering group will spin off its materials services trading arm and its automotive-technology division, building on previously announced plans to sell or partially sell its steelmaking and naval shipbuilding operations, the company said Monday. The shift caps a drawn-out breakup of a company that traces its roots to Germany’s Krupp steel and armaments empire.