Thyssenkrupp Steel: Foundation stone for 800 million investment
Germany's largest steel manufacturer, Thyssenkrupp Steel, is starting a modernization of several production facilities in Duisburg on Monday at a cost of over 800 million euros. North Rhine-Westphalia's Economics Minister Mona Neubaur (Greens), Thyssenkrupp Steel CEO Bernhard Osburg and SPD Chairman Lars Klingbeil will be among those attending the laying of the foundation stone for the major Bruckhausen project.
The plan is to build several plants for the further processing of crude steel. For example, a 20-year-old casting-rolling plant is to be replaced by a continuous casting plant and a downstream hot strip mill. Among other things, the new facilities will enable the production of thinner and stronger steels for the automotive industry, for example.
The company announced in advance that this was the most extensive investment at the site in decades. The aim is to strengthen the company's position in European competition and to secure its technological and quality leadership.
Thyssenkrupp Steel will replace a 20-year-old casting-rolling plant with a continuous casting plant and a downstream hot strip mill, using the new facilities to produce thinner and stronger steels for the automotive industry, made of steel. This significant investment in modernization, costing over 800 million euros, will help strengthen Thyssenkrupp Steel's position in European competition and ensure its technological and quality leadership.
Source: www.dpa.com
