Make changes that are as socially responsible as feasible.

The sector involving the production of steel is being discussed. - Make changes that are as socially responsible as feasible.

CEO of Thyssenkrupp, Miguel López, has announced that the company is committed to implementing future capacity reductions in their steel production in Duisburg with a focus on social responsibility and minimizing job losses. Speaking at an event hosted by the Economic Journalists Association in Düsseldorf, López stated, "Our goal is to approach these adjustments in the most socially responsible manner possible and to avoid any job cuts."

Thyssenkrupp Steel previously announced plans for significant capacity reductions in Duisburg which could result in additional job losses, but details are yet to be revealed. The IG Metall union has stipulated that any restructuring must exclude job cuts and provide guarantees beyond 2026 to receive their support.

Thyssenkrupp-CEO Urges Rapid Implementation of Restructuring Plan

The timeframe for presenting the precise restructuring plan remains uncertain. However, López emphasized, "We'd like to see this plan unveiled as soon as possible." Upon receiving the plan, the works council and the supervisory board of Steel Europe will delve deep into the specifics.

It is unclear how long the negotiations will take. López explained, "We'll first engage in dialogue once the board presents us with the proposal. Then, we'll examine the issues that require further attention."

EPCG Partnership Advocated for by Thyssenkrupp-CEO

López reiterated his support for the energy partnership with Czech billionaire Daniel Křetínský's company, EPCG. The 20% stake in the steel division secured in April is a significant step towards the independent operation of its steel division.

"The exit from coal in Germany is a done deal; we don't have enough green energy here, especially not in large quantities. Hence, we need partners from outside," López stated. "The cooperation brings together Thyssenkrupp Steel's leading material expertise with EPCG's energy expertise. This partnership is vital to improving our steel's competitiveness."

With a workforce of 100,000 globally and around 27,000 employees in their steel division, Thyssenkrupp's CEO is determined to create a robust, profitable, and forward-thinking steel company. López took over the CEO position from Martina Merz in early June 2023.

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1. ThyssenKrupp, a prominent company based in North Rhine-Westphalia, specialized in both the German industry and the defense industry, is spearheading efforts to reduce capacity in their steel production plant in Duisburg.
2. The CEO of ThyssenKrupp, Miguel López, has emphasized the importance of maintaining social responsibility during these changes, ensuring minimal job losses in the steel and metal sectors.
3. Trade unions, such as IG Metall, have expressed their expectations for ThyssenKrupp Steel to exclude job cuts and provide guarantees beyond 2026 in order to receive their support.
4. Located in Duisburg, the city is known for its significant steel industry contributions, making the potential job losses in this sector a matter of concern for the local community.
5. CEO López has advocated for an energy partnership with EPCG, a Czech company, to improve the competitiveness of ThyssenKrupp's steel division, given Germany's dependence on external partners for green energy.
6. As the head of a global company with 100,000 employees, ThyssenKrupp's CEO, López, is committed to creating a forward-thinking, profitable steel company in a sector that is crucial to Germany's industry and trade.

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