German steelmakers Thyssenkrupp and Salzgitter and French pipe manufacturer Vallourec are considering the sale of their Germany-based joint venture Hüttenwerke-Krupp Mannesmann (HKM), according to Reuters. Thyssenkrupp has confirmed that there is a party interested in the acquisition of HKM and that negotiations are currently underway.
Thyssenkrupp owns 50 percent, Salzgitter owns 30 percent and Vallourec 20 percent in the joint venture. HKM has an annual production capacity of 5.6 million mt of slab and round bars.
