ThyssenKrupp seeks buyers for railway and construction units

ThyssenKrupp yesterday said that it will sell its railway and construction units, as it views that the businesses have limited growth prospects within the group.

The Essen-based company said that management of its material services division informed the group’s supervisory board of its decision to initiate a sale process for GfT Gleistechnik and GfT Bautechnik, its railway and construction businesses.

Both units have combined sales of around €400 million ($523 million) and around 800 employees.

“In view of limited growth prospects on the German market and increased cost pressure, the materials services division believes the two activities will have better development opportunities outside the ThyssenKrupp Group,” the company said in a statement.