Beleaguered German industrial conglomerate Thyssenkrupp said on Thursday, August 13, that its losses widened in the 3rd quarter as a result of plant closures related to the coronavirus pandemic.
"Thyssenkrupp's performance in the first 9 months of the current fiscal year was significantly impacted by the effects of the coronavirus pandemic," the statement said. Thyssenkrupp said its materials and components business, a major supplier to the automotive industry, was particularly hard hit by coronavirus lockdowns that kept factories and dealerships closed for weeks on end.
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