Employees welcome Jindal Steel’s offer to purchase the Steel division of Thyssenkrupp

Thyssenkrupp is examining a bid from Indian company Jindal Steel to purchase its Steel division. Jürgen Kerner, Second Chairman of IG Metall and Deputy Chairman of the Supervisory Board of Thyssenkrupp AG, hails this as good news for employees.

On 16 September, Thyssenkrupp CEO Miguel López informed the Group Supervisory Board about a bid from Indian steel manufacturer Jindal Steel International to purchase Thyssenkrupp Steel Europe. López explained that the Executive Board wanted to examine the offer very carefully and provided no further details.
Jürgen Kerner, Second Chairman of IG Metall and Deputy Chairman of the Supervisory Board of Thyssenkrupp AG, is upbeat over the purchase offer: “The fact that a growth-focused steel group like Jindal Steel International wants to join Thyssenkrupp Steel as a strategic investor is basically good news for our employees. Jindal Steel has its own access to raw materials and expertise in green transformation. It’s now important to swiftly enter into substantive talks so we can achieve clarity on the foremost unresolved issues as soon as we can. Employees have expressed their readiness to play a constructive part in the process.”
Thyssenkrupp is working on making the Steel division independent as it advances its strategic realignment. In a first step, 20 per cent of Thyssenkrupp Steel’s shares have already been sold to the Czech EP Group owned by entrepreneur Daniel Křetínský, with the aim of increasing the stake to 50 per cent.
Source: IG Metall/ Thyssenkrupp