Germany-based steelmaker Thyssenkrupp Steel has announced that it plans to significantly reduce its steel production capacity utilization at its Duisburg plant to adjust its operations to the current challenging market conditions. The company stated that the planned measures are important toward maintaining competitiveness and establishing a resilient supply of steel to drive industrial growth in Germany.
The Duisburg plant’s annual production capacity will be reduced to approximately 9-9.5 million mt from the current 11.5 million mt. These measures will also entail job cuts that cannot yet be quantified, although Thyssenkrupp aims to continue avoiding redundancies for operational reasons.
Meanwhile, the company stated that there will be no changes to the already initiated implementation of the green transformation. The construction of the first direct reduction plant at the Duisburg site will continue as planned.
