Thyssenkrupp, Owner of Germany’s Iconic Steelmaker, to Become Holding Company After 200 Years

AfD leader Alice Weidel said the breakup of Thyssenkrupp ’symbolizes the decline of our economy.’

A steel worker for Germany's industrial conglomerate ThyssenKrupp takes a sample of raw iron from a blast furnace at Germany's largest steel factory in Duisburg, on Jan. 28, 2019. Wolfgang Rattay/Reuters

The owner of Germany’s largest steelmaker, Thyssenkrupp, said on Monday it aims to turn into a holding company after two centuries as a manufacturer.

The company, once a symbol of German manufacturing might, has struggled in recent years with high costs, tariffs, cheaper Asian competitors, and difficulties around the steel industry’s green transition.