FRANKFURT, April 7 German industrial group
Thyssenkrupp said on Friday it planned a new
cost-cutting round of 500 million euros ($531 million) over
three years at its steel unit, which it continues to try to
merge with Tata Steel's European operations.
It also said it planned to close parts of some production
facilities at its heavy plate business unit, adding that it was
not yet clear how many jobs would be affected.
The European steel unit, under constant pressure from cheap
imports and industry overcapacity, has already taken more than
600 million euros in costs out of the business under a previous
restructuring programme that ended about a year ago.
Thyssenkrupp said it would now discuss the measures in
detail with employee representatives.
($1 = 0.9422 euros)
(Reporting by Georgina Prodhan; Editing by Maria Sheahan)