Photo Gallery ThyssenKrupp in Trouble
Two unprofitable mills in Brazil and the United States have already cost ThyssenKrupp more than 10 billion. "Of course mistakes were made in the planning and construction of the mills. But they could have been fixed," Hieseinger tells SPIEGEL. Here, a worker at a ThyssenKrupp steel factory in Duisburg, Germany.
There has been speculation for weeks that the company will be broken up and sold. "That's complete nonsense," says Hiesinger. "This is not an issue that is being considered or discussed. We embarked on our mission to restructure the company, not to break it up." Here, clouds over the Hüttenwerk Krupp Mannesman plant in Duisburg, of which ThyssenKrupp owns 50 percent.
Hiesinger: "We have invested more in almost all forward-looking departments and have spent more on research and development than in previous years. Our automotive division, for example, is building four plants in China and one in India." Here, ThyssenKrupp headquarters in Essen, Germany.
Berthold Beitz, the former head of ThyssenKrupp shown here on the right, died this summer at the age of 99. Hiesinger claims he was not as involved in the recent operations of the company as many assume: "The role of Mr. Beitz as someone who actively intervened in daily operations is incorrect. Until his death, I never received a single letter or phone call from him on business-related issues."
Flowers and wreaths at Berthold Beitz' grave in Essen. Hiesinger says, about his relationship with the former ThyssenKrupp head, "I believe that I was able to quickly develop a very good relationship with Mr. Beitz, because he recognized that I think and act independently."
Because of its 25-percent share, the Krupp Foundation -- headquartered in Essen -- has certain privileges. It can appoint three members of the supervisory board, thereby establishing a defense against hostile takeovers.
ThyssenKrupp is under investigation for price fixing in steel production. "The amnesty program for employees willing to testify did not yield any information but the investigation is only beginning," says Hiesinger. Here, the ancestral Krupp home in Essen.
