Germany-based steelmaker Salzgitter Group’s CEO Heinz Joerg Fuhrmann has said that nothing compared to independence would improve the company's situation, and rejected the idea of an alliance with German steelmaker ThyssenKrupp, according to Reuters.
ThyssenKrupp said last month that it faces an operating loss of €1 billion this year, due to cheap Chinese imports, high raw material prices and weak automotive demand, and sees Salzgitter as one of several potential future partners.
Meanwhile, Salzgitter is open to the idea of German cooperation proposed by IG Metall union to shift the steel sector to renewable energy sources for blast furnaces.