Thyssenkrupp Steel withdraws from WV Stahl
Germany's largest steel producer, thyssenkrupp Steel, has withdrawn from the German Steel Manufacturers Association (WV Stahl), which traditionally represents the interests of national steel producers.
Thyssenkrupp Steel has terminated its membership since December 31, according to Kallanish.
"Given the current economic challenges, we are aware of our responsibility to maximize the efficient use of our resources," the company said in a statement. "This applies to both the time spent by our staff and the cost of membership. This decision clearly does not mean abandoning an industry-wide dialogue on policy issues of common interest, and we will continue to support WV Stahl's positions on key industrial policy issues."
"As the largest steel producer in Germany, our company is aware of its special responsibility and will continue to engage in a focused dialogue with policy makers, regulators and market partners," the statement said.
"We regret this decision, especially considering that thyssenkrupp Steel is actively involved in the work of the association during these difficult times," notes V.
V. Stahl.
This is happening against the background of preparations for the German national steel summit, which Chancellor Friedrich Merz will hold on November 6 in Berlin to find ways to overcome the crisis in the industry.
Last month, thyssenkrupp Steel temporarily shut down blast furnace No. 9 at its site in Duisburg—Bruckhausen (see Kallanish passim). The company attributed this decision to weak demand for steel in Europe and growing pressure from imported products, which negatively affects the competitiveness of local production. The company appointed Marie Yaroni as its new executive Director effective November 1.
The company is in intensive negotiations with Jindal Steel International regarding its steel business. The Indian group is ready to invest more than 2 billion euros ($2.29 billion) in the development of electric furnaces and the completion of the environmentally friendly steel production project in Duisburg.
Svyatoslav Abrosimov Bulgaria
Kallanish.com