German steelmaker Thyssenkrupp Steel has announced that the setting up of a logistics joint venture between its subsidiary Thyssenkrupp Steel Logistics GmbH and Duisburg port operator Duisburg Hafen AG (Duisport) is close to being finalized, following approval of the transaction by Germany’s Federal Cartel Office.
Thyssenkrupp Steel will have a 51 percent interest in the joint venture, while Duisport will have a 49 percent interest. The joint venture was founded with the goal of making optimum use of existing capacities and, as partners, further developing Europe's largest steel and logistics location.
“Europe’s largest steel location and the world's largest inland port, together handling over 60 million mt of raw materials and bulk goods annually, are natural partners for the ongoing development of logistics and the transformation in Duisburg and the Rhine-Ruhr region,” stated Markus Micken, responsible for logistics at Thyssenkrupp Steel.