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HACKING

Industrial giant ThyssenKrupp hit by ‘massive cyber attack’

German heavy industry giant ThyssenKrupp said Thursday it fell victim to a hacking attack in which the perpetrators sought to steal company secrets.

Industrial giant ThyssenKrupp hit by 'massive cyber attack'
Photo: DPA

Hackers believed to be from Southeast Asia were trying to obtain “technological know-how and research results” from the steel conglomerate, said a company spokesman, confirming a report in the Wirschaftswoche weekly.

“The attack is over and had been repelled,” he added.

The “massive cyber attack” had targeted divisions dealing with planning of industrial plants and steel works in Europe.

Highly protected parts of the company such as ThyssenKrupp Marine Systems or the IT control systems of the group's blast furnaces and power plants were not affected.

ThyssenKrupp Marine builds warships including submarines for the German and Israeli navies.

The cyber attack was uncovered by the company's IT security office, which monitored and analysed the hacking while it was ongoing, said the group.

The company said it was unable to estimate if there had been any material losses arising from the attack, adding that only “data fragments” had been stolen.

There was no sign of data manipulation or sabotage, it added.

Germany has been the target of repeated cyber attacks in recent years.

Internet services for a million households went down last month after Deutsche Telekom was hit by hackers.

Berlin has also ramped up its warning of a rise in cyber attacks orchestrated by Russia aimed at disrupting next year's general election.

Chancellor Angela Merkel said such assaults are now so common that Germany must learn to cope with them as part of daily life.

 

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STEEL

German steel giant rejects ‘high cost’ state support

German industrial giant Thyssenkrupp on Friday rejected state participation to support it during the pandemic, an option favoured by unions but judged too costly by management.

German steel giant rejects 'high cost' state support
Thyssenkrupp's offices in Duisberg. Photo: Ina Fassbender / dpa / AFP
“State participation off the table,” Klaus Keysberg, the group's financial director, told the German daily Rheinische Post on Friday.
   
Keysberg blamed “high costs” in the long term of government assistance, “due to the interest payments and the terms of repayment.”
   
Already weakened by years of cut-price competition from China in the steel industry, Thyssenkrupp has further struggled with the effects of the pandemic that caused business activity to plunge.
   
The company said in mid-November it would cut an additional 5,000 jobs as part of its restructuring plan, bringing the total to nearly 11,000, to be spread out over several years.
 
   
Thyssenkrupp chief executive Martina Merz has not ruled out state assistance.
   
The powerful IG Metall union had organised rallies in October to demand a rescue plan from Berlin.
   
But the government was never enthusiastic, despite their acquisition of stakes in the airline Lufthansa and tour operator TUI, which also had business ravaged by Covid-19.
   
“I don't believe that nationalisation is the right response at the moment,” Germany's Economy Minister Peter Altmaier said in October on Thyssenkrupp.   
 
But national and regional governments favour more traditional aid structures, such as subsidies, or moves to convert to production of so-called green steel.
   
Discussions will continue to find alternatives.
   
A takeover of Thyssenkrupp's steel activities is still on the cards. British steel giant Liberty, founded by industrialist Sanjeev Gupta, launched a takeover bid in October.
   
Discussions are also underway with Sweden's SSAB and India's Tata Steel.
   
An alliance with fellow German steelmaker Salzgitter to create a national steel champion is also being considered. But these options won't be decided until “spring 2021”, Thyssenkrupp said.
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