Core Insights - Thyssenkrupp is considering a potential spin-off, IPO, or divestiture of its materials trading division as early as this year, while exploring changes to the legal structure of the business to maintain control in the event of a majority stake sale [1] Group 1 - The materials services division accounts for over one-third of Thyssenkrupp's total sales, indicating its significant role within the company [1] - This discussion around the materials services division marks a step towards comprehensive reform under CEO Miguel Lopez, following the spin-off of the defense division and ongoing negotiations to sell the steel division [1]