ThyssenKrupp AG (stylized for current logo as thyssenkrupp AG) /ˈtɪsɛn.krʊp/ is a European multinational conglomerate corporation based in Duisburg and Essen, Germany. The corporation consists of 670 companies worldwide. While ThyssenKrupp is one of the world's largest steel producers, the company also provides components and systems for the automotive industry, elevators, escalators, material trading and industrial services. As of a 2009 reorganization, it is structured into eight business areas that fall under two major divisions, Materials and Technologies. The Materials division concentrates on carbon steel, stainless steel, and material services while the Technology Division concentrates on elevator, plant and components technology, and marine systems. The company is the result of the 1999 merger of Thyssen AG and Krupp, and now has its operational headquarters in Essen. The largest shareholder is the Alfried Krupp von Bohlen und Halbach Foundation, a major German philanthropic foundation, created by and named in honour of Alfried Krupp von Bohlen und Halbach, former owner and head of the Krupp company, once the largest company in Europe.