Thyssenkrupp undergoes major furnace repairs amid restructuring concerns

Thyssenkrupp Steel has announced a six-week partial renovation of the Schwelgern 2 blast furnace, Europe’s largest, which began its shutdown on August 30. The maintenance, expected to conclude by mid-October, focuses on replacing cooling components and renewing the heat-resistant refractory lining to ensure long-term operational stability at the Duisburg site.

Separately, Marc Tüngler, head of the Deutsche Schutzvereinigung für Wertpapierbesitz (DSW), has raised concerns regarding CEO Miguel López’s plan to restructure Thyssenkrupp into a lean financial holding through various divisional spin-offs. Tüngler warned that the company faces significant challenges, particularly in the steel division, which must contend with an overdimensioned European market, cheap imports from China, and a weak domestic automotive industry.