- Thyssenkrupp steel business: Board of Supervisors discusses future
Germany's largest steel producer, Thyssenkrupp Steel Europe (TKSE), will discuss a fundamental restructuring with its supervisory board on Friday. The board will review an unpublished restructuring plan, known as a business plan, developed by management over the past few months.
The division is set to become independent. To improve competitiveness, it plans to significantly reduce production capacity, which may involve job cuts. However, forced redundancies are to be avoided.
Around 27,000 people work in Thyssenkrupp's steel division, with 13,000 in Duisburg. Employment is guaranteed until the end of March 2026.
Last week, energy company EP Corporate Group (EPCG), owned by Czech billionaire Daniel Kretinsky, acquired a 20% stake in TKSE. It was initially unclear whether Kretinsky would personally attend the meeting on Friday.
The unpublished restructuring plan for TKSE includes significant changes in the Manufacture of steel, aiming to enhance competitiveness. Reductions in production capacity might be necessary, but the focus is on avoiding forced layoffs.
