State Stake in ThyssenKrupp to Avoid Duisburg Plate Mill Closure

German Business Newspaper Handelsblatt recently reported that German steel workers union IG Metall sees itself facing the threat of closure of the coarse
State Stake in ThyssenKrupp to Avoid Duisburg Plate Mill Closure
ThyssenKrupp Duisburg Plate MillViktormacha

German Business Newspaper Handelsblatt recently reported that German steel workers union IG Metall sees itself facing the threat of closure of the coarse sheet plant of ThyssenKrupp Steel in their demand for a government stake in the steel division confirmed. IG Metall North Rhine Westphalia head Mr Knut Giesler told Handelsblatt "The information that the last bidder for the heavy plate plant in Duisburg Huttenheim has dropped out is a black day for the steel industry in North Rhine Westphalia and for the employees. Even if there is still the possibility of a buyer being found by the end of December, the chances of preventing a closure would decrease.”

The union demands that the state take at least a 25 percent stake in Thyssenkrupp Steel Europe. Mr Giesler said "The current situation shows how urgently a state participation is for the steel division of ThyssenKrupp."

During the annual results press call November 19, ThyssenKrupp said it is not possible to find a buyer for its plate mill in Duisburg Huettenheim until the deadline of December 31, 2020 and is seeing a high likelihood to close the mill 2021

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