IG Metall Supports Thyssenkrupp Steel's Strategy for Independence
IG Metall ThyssenkruppIG Metall

IG Metall Supports Thyssenkrupp Steel's Strategy for Independence

Handelsblatt reported that German steel workers union IG Metall has supported steel division of ThyssenKrupp backed strategy for an independent

Handelsblatt reported that German steel workers union IG Metall has supported steel division of ThyssenKrupp backed strategy for an independent division of the materials business. IG Metall chief cashier & vice-head of ThyssenKrupp supervisory board Mr Jurgen Kerner said “For the employee side, the further development of steel on their own with the option of making the steel business independent is the right decision. In all shops, the focus is currently on cutting costs and downsizing. For the employees it is clear that the future cannot be shaped with these measures alone. Without clear support from the state, the switch to 'green steel' will not succeed.”

ThyssenKrupp CEO Ms Martina Merz announced in employee memo that after the cancellation of a sale of the steel division to Liberty Steel, the business would be given more leeway for independent development. She said “Steel has to be set up in a robust way throughout the full cycle so that it no longer needs support from the group. The aim is to make the steel business independent. There are a number of prerequisites for this, which we systematically work through. "

Her remarks come after the group cancelled an extraordinary supervisory board meeting originally scheduled for March 12 to decide whether to sell the steel division to Britain’s Liberty Steel.

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