Thyssenkrupp open to idea of merger for its steel unit

Friday, 25 June 2021 16:44:51 (GMT+3)   |   Istanbul

Germany-based steelmaker Thyssenkrupp’s CEO Bernhard Osburg stated the merger of the company’s steel unit with a rival remains a key topic, according to Reuters.

Mr. Osburg said that there are many reasons, such as the pressure to rein in costs and creating lean structures, to make an alliance for the steel unit.

In September last year, Germany-based steelmaker Salzgitter Group rejected the idea of an alliance with ThyssenKrupp, but was open to the idea of German cooperation proposed by IG Metall union to shift the steel sector to renewable energy sources for blast furnaces, as SteelOrbis previously reported.

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