ThyssenKrupp AG is considering the sale of its automotive components division, reported the Wall Street Journal.
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According to the newspaper, the company has received several enquiries that could value the division at about EUR3bn (US$3.6bn). The article also said that the company had hired Morgan Stanley and Greenhill & Co to consider a sale.
According to SupplierBusiness, pre-tax profits in ThyssenKrupp’s automotive division fell to zero in the first quarter of 2006, down from €24m a year earlier.
