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Germany's second largest steel company announces force majeure on supplies due to snowfall

Europe / Business and Finance

Strong winds, snowfalls and ice in northern and central Germany led to a traffic collapse.

Germany's second largest steel company announces force majeure on supplies due to snowfall

German steelmaker Salzgitter has announced force majeure over steel supplies, Argus reported, citing a letter from the company.

Germany's second largest steel company said the Salzgitter-Beddingen freight station was closed due to winter weather and trains were "stuck" throughout the rail freight network.

It states that last week, rail and inland waterway traffic was not possible, although road transport was possible on some routes, but with delays of up to several days.

Last week, the country's largest metallurgical company, ThyssenKrupp Steel Europe, told clients that it would not be able to restore its stocks of metal products to pre-crisis levels due to bad weather.

Blizzards and snowfalls, which also disrupted the movement of trucks, trains and barges carrying materials for ThyssenKrupp, resulted in “production delays and equipment downtime along the entire process chain.

Snowfalls and ice caused chaos on the roads of Germany. In France, the last, "orange " hazard level continues to operate.

Salzgitter AG (FWB: SZGG) is a German steel company. It is the second largest in Germany, behind only ThyssenKrupp Steel AG. The company produces rolled steel, metal products, pipe products. Founded in 1858 as Aktiengesellschaft Ilseder Hütte.

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