German steel workers union IG Metall has warned that the conversion to climate-neutral steel production at Hüttenwerke Krupp Mannesmann, which would be the end of Germany's second largest steel works, is in danger of failing due to lack of financing. IG Metall sees thousands of jobs at risk and has called on the shareholders of HKM to clearly commit to the future of the traditional steelworks and to invest in its conversion now.IG Metall executive board member and Thyssenkrupp’s deputy chairman of the supervisory board Mr Jürgen Kerner said “In almost all steel companies along the blast furnace route, the transformation towards green steel production has meanwhile been initiated with concrete investment decisions. A concrete concept is also on the table for HKM. What is missing is the financing commitment from the shareholders. However, it must not be the case that the transformation of the company fails because of their hesitation and procrastination. Thyssenkrupp Steel Europe AG and Salzgitter AG as the largest shareholders now have to take responsibility.”IG Metall’s First Chairman Mr Jörg Hofmann added “It is now very specifically about the future of our colleagues at HKM. But there is much more at stake: what is at stake is industrial value creation and thus the future of good jobs in Germany. If we do not succeed in transforming the basic industry into the climate-neutral age and thereby strengthening closed value creation networks in Germany, this will have dramatic effects on the entire industrial location - far beyond the steel industry. An out of the HKM would be a fatal signal. That is why the shareholders of HKM must now live up to their responsibility and invests in the future.”The French pipe manufacturer Vallourec intends to give up its 20% stake in HKM and withdraw from Germany. Against this background, the two remaining shareholders Thyssenkrupp Steel Europe with 50% and Salzgitter with 30% are struggling to find a solution for the future of HKM.With a current production volume of 4.2 million tonnes of crude steel per year and a capacity of 5.6 million tonnes, HKM is Germany's second largest steel works. 3,100 steelworkers are currently employed there.
German steel workers union IG Metall has warned that the conversion to climate-neutral steel production at Hüttenwerke Krupp Mannesmann, which would be the end of Germany's second largest steel works, is in danger of failing due to lack of financing. IG Metall sees thousands of jobs at risk and has called on the shareholders of HKM to clearly commit to the future of the traditional steelworks and to invest in its conversion now.IG Metall executive board member and Thyssenkrupp’s deputy chairman of the supervisory board Mr Jürgen Kerner said “In almost all steel companies along the blast furnace route, the transformation towards green steel production has meanwhile been initiated with concrete investment decisions. A concrete concept is also on the table for HKM. What is missing is the financing commitment from the shareholders. However, it must not be the case that the transformation of the company fails because of their hesitation and procrastination. Thyssenkrupp Steel Europe AG and Salzgitter AG as the largest shareholders now have to take responsibility.”IG Metall’s First Chairman Mr Jörg Hofmann added “It is now very specifically about the future of our colleagues at HKM. But there is much more at stake: what is at stake is industrial value creation and thus the future of good jobs in Germany. If we do not succeed in transforming the basic industry into the climate-neutral age and thereby strengthening closed value creation networks in Germany, this will have dramatic effects on the entire industrial location - far beyond the steel industry. An out of the HKM would be a fatal signal. That is why the shareholders of HKM must now live up to their responsibility and invests in the future.”The French pipe manufacturer Vallourec intends to give up its 20% stake in HKM and withdraw from Germany. Against this background, the two remaining shareholders Thyssenkrupp Steel Europe with 50% and Salzgitter with 30% are struggling to find a solution for the future of HKM.With a current production volume of 4.2 million tonnes of crude steel per year and a capacity of 5.6 million tonnes, HKM is Germany's second largest steel works. 3,100 steelworkers are currently employed there.
