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In February, in an effort to rescue declining performance, the company decided to sell its elevator business to a consortium of (Advent) and (Cinven).
MartinaMerz, the company's chief executive, said ThyssenKrupp would become smaller but stronger in the transition. "
The steel business, once the company's traditional core division, "burned" more than 1 billion euros in cash in the six months to March 31.
ThyssenKrupp was reorganized by Thyssen and Krupp in 1999. Thyssen and Krupp both have a long history. The former was founded in 1871 and the latter in 1811.
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