Steel becomes new problem child as Thyssenkrupp posts profit drop
Share:
FRANKFURT/DUESSELDORF, Germany (Reuters) - Thyssenkrupp's steel division swung to a loss in the first quarter, raising doubts over Europe's second-biggest steelmaker, the conglomerate's core following its planned sale of its elevator business.Imports from China and weak demand from the car industry have pummelled steelmakers across the continent, including German rival Salzgitter and the local division of India's Tata Steel .Thyssenkrupp's loss highlights the challenges it will face in..