Exclusive: Thyssenkrupp Opens Books in Sale of Plant-Building Unit | Investing News

By Christoph Steitz and Tom Käckenhoff

ESSEN, Germany (Reuters) – Thyssenkrupp has begun due diligence with potential bidders for its plant division as the German conglomerate accelerates a radical overhaul to sell or turn around ailing business units in the next two years, a top executive told Reuters.

In his first interview, Volkmar Dinstuhl, who oversees the divestment of non-core assets, said the company has opened the books to buyers of its plant-building units and received expressions of interest for its stainless steel division.

Thyssenkrupp

is also open to considering offers for its automotive and remaining industrial assets, said Dinstuhl, who heads up the group’s Multi-Tracks division, which houses businesses Thyssenkrupp no longer wants to own.

“Our goal is to find a solution for all our businesses within the next two years,” said Dinstuhl, the first time Thyssenkrupp has outlined a timeline for restructuring.

The Essen, Germany-based company, which makes

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