Germany's Thyssenkrupp launches sale of automation engineering unit

German industrial conglomerate Thyssenkrupp is starting the process of selling its automation engineering business unit to Munich-based Agile Robots.

The financial terms of the deal were not disclosed in the announcement by Thyssenkrupp on Monday.

The deal aligns with the company's plan to strategically reposition the segment, driving toward growth and capital market capability.

Upon completion of the deal, which is expected within the coming months, the unit will operate under the name Krause Automation, offering end-to-end solutions ranging from intelligent components to turnkey plants.

Additionally, Agile Robots, Thyssenkrupp, and IG Metall have concluded a fair ownership agreement ahead of the recent transaction.