The steel manufacturer Thyssenkrupp Steel Europe (TKSE) has taken another step towards separation from the steel supplier HKM.
In an extraordinary meeting, the Supervisory Board decided to terminate the delivery contract with the Duisburger Stahlhütte. It will be effective at the latest at the end of 2032. The company announced this after the meeting.
TKSE is 50 percent involved in HKM, but wants to separate from this participation in the course of a large -scale reorganization
– either by selling or closing the Duisburger
South native steel hut.
The other HKM shares belong to the Salzgitter steel company (30 percent) and the French tube manufacturer Vallourec (20 percent). HKM employs 3,000 people. TKSE receives around 2.5 million tons of steel from HKM annually.
Thyssenkrupp: Transition with preliminary material is secured
“The termination of the delivery contract itself initially has no direct consequences for the continued operation of the HKM,” emphasized Tkse. The delivery of your shareholders with predecessors is completely guaranteed until further notice.
In the morning, employees of HKM and other Duisburg steel companies protested against the termination of the delivery contracts in front of the TKSE headquarters. According to IG Metall, around 1,000 people took part in the campaign. IG Metall fears a closure of the work and the loss of thousands of jobs.
The background to the delivery contract termination is the planned separation of HKM in the course of the reorganization of TKSE. Germany’s largest steel manufacturer belongs to the Thyssenkrupp industrial group and employs around 27,000 people. The number includes around 1,500 HKM employees. The company is to be independent.
Capacity reduction, especially by separating HKM
In order to improve its economic situation, TKSE wants to reduce his steel production capacity and reduce 5,000 jobs. Another 6,000 jobs are to be outlined. The company wants to achieve capacity reduction primarily by separating HKM. According to steel chief Dennis Grimm, TKSE expects to avoid fixed costs up to an average three -digit million amount after a separation per year.
If no sale of HKM comes about, Thyssenkrupp wants to talk to the other shareholders about a closure. In February, according to TKSE, a prospective buyer had demolished discussions about acquisition. According to IG Metall, talks with possible investors are still still underway.
The separation from the HKM is “mandatory to achieve a competitive cost item, to maintain our location in Duisburg-Nord and to set up Thyssenkrupp Steel economically robust and future-proof,” said Tkse boss Grimm, according to the message. A sale of the company shares at the HKM is still the preferred option for TKSE: “We are ready to talk to all serious interested parties.”
HKM has so far supplied the Thyssenkrupp Hohenlimburg with steel blocks in particularly narrow dimensions. In order for the supply of the subsidiary to be guaranteed even after an HKM exit, a strand casting system at the Duisburg-Nord location is to be equipped. “The necessary investment funds in the high double -digit million range are already approved,” it said.
“The employers did it,” commented the deputy TKSE supervisory board chairman Knut Giesler. Giesler is district manager of IG Metall North Rhine-Westphalia.
The Thyssenkrupp share ultimately noted 13.88 percent lower at 7.99 euros on Friday.
Duisburg (dpa-Afx)
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