Industry News

Thyssenkrupp CEO: government stake one option to fix steel unit

Views : 252
Update time : 2020-10-12 22:39:48
Thyssenkrupp TKAG.DE will consider all options, including selling a stake to the German government, in its plans to fix its ailing steel unit, Chief Executive Martina Merz said.

“State participation is one option,” Merz said on Monday at an industry event, days after labour union IG Metall called on Berlin to rescue Germany’s largest steelmaker.

“But state participation can also be part of other options. One could imagine a combination,” she said, adding it would be possible that the government would take a stake before a third party takes over the business.

“What I want is a long-term solution for Thyssenkrupp.”

Last week Economy Minister Peter Altmaier had opposed the idea of the government taking a direct stake, instead favouring support payments to help the industry transition to hydroge-based steel production.

Related News
Read More >>
US aluminium trade trends down with imports dampened by 12% in February 2025 US aluminium trade trends down with imports dampened by 12% in February 2025
May .09.2025
US aluminium trade trends down with imports dampened by 12% in February 2025
Geneva to host the world’s most expensive conversation between China and US Geneva to host the world’s most expensive conversation between China and US
May .09.2025
Geneva to host the world’s most expensive conversation between China and US
Expectations of weakening market demand grow stronger, with short-term domestic aluminium prices expected to fluctuate considerably Expectations of weakening market demand grow stronger, with short-term domestic aluminium prices expected to fluctuate considerably
May .09.2025
Expectations of weakening market demand grow stronger, with short-term domestic aluminium prices expected to fluctuate considerably
India launches aluminium recycling portal amid circular economy push and global trade shifts India launches aluminium recycling portal amid circular economy push and global trade shifts
May .09.2025
India launches aluminium recycling portal amid circular economy push and global trade shifts