The traditional German steel company Thyssenkrupp is apparently faced with the smashing. The group headquarters are to be halved, the steel business is sold abroad.
The workers’ wing of the CDU (CDA) therefore speaks of a “highly dramatic situation for the entire value chain in the steel industry”, as its chairman Dennis Radtke on Monday star said.
Friedrich Merz has to rescue the steel industry
Radtke himself comes from North Rhine-Westphalia, is a member of the IGBCE industrial union. The CDA chairwoman warns: “To avoid a clearcut that would make us even more dependent on China in the future, a effort and a basis of trust are needed.” Radtke turns to Friedrich Merz with an urgent appeal: “The Federal Chancellor has to make the topic a top priority and now also give national answers according to the European Action Plan.”
The federal government must quickly ensure falling energy costs and take further measures to support the production of so -called green steel. “The special fund for the Bundeswehr must also be used to strengthen the domestic steel industry,” says Radtke.
Thyssenkrupp has been in crisis for years
At the weekend, the “Bild am Sonntag” reported on the plans of CEO Miguel Lopez. According to group circles, the destruction of the traditional company goes beyond the steel division and its own naval yard. The former is therefore probably halfway half to a Czech investor who go to the stock exchange.
“In addition, the farewell to the steel trade is prepared,” quotes “Bild am Sonntag” from the company. The area with 16,000 employees and annual sales of 12.1 billion euros should also be brought to the stock exchange. It is another bad news for the employees and an entire region: It was only at the end of last year that the group announced a massive job cuts. In six years, 5,000 jobs are to be deleted and 6000 outsourced.
CEO promises “strategic reorganization”
The group has been in crisis for years. High energy prices in Germany, weak demand and cheap steel imports from Asia put a strain on business. Management spoke months ago of a “persistently challenging and difficult market environment”. Thyssenkrupp AG has mostly made losses for years.
CEO Miguel Lopez spoke of a “strategic reorganization” on Monday. Lopez said: “The future independence of our today’s segments – with the advantage of their own capital market access and the possibility of the participation of third parties – will increase their entrepreneurial flexibility.” The parent company wants to hold majority shares on most sectors.
Source: Stern
I have been working in the news industry for over 6 years, first as a reporter and now as an editor. I have covered politics extensively, and my work has appeared in major newspapers and online news outlets around the world. In addition to my writing, I also contribute regularly to 24 Hours World.
