London, 22 May — ThyssenKrupp Schulte will close seven sites as part of its restructuring drive, market sources told today. The company will close stockholding warehouses in Braunschweig, Rheine, Munich, Nuremberg, Freiberg, Mannheim, and Frankfurt. Last month, ThyssenKrupp Schulte announced plans to close sites and cut around 450 jobs without specifying the affected locations. The company cited declining materials demand and increased demand for materials-related services as reasons for the restructuring. ThyssenKrupp Schulte, a part of ThyssenKrupp Materials Services, distributes stainless, carbon, and non-ferrous metals from approximately 40 locations. Discussions regarding the affected locations are ongoing, as detailed transformation plans are subject to negotiations with co-determination bodies. A company spokesperson emphasized the goal of enhancing profitability and adapting the business model to meet evolving customer needs during this restructuring process.
ThyssenKrupp Schulte to Close Seven Sites in Germany
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