Salzgitter to take over HKM steelworks

Thyssenkrupp Steel has come to an agreement with Salzgitter on the future of Hüttenwerke Krupp-Mannesmann (HKM): with effect from 1 June 2026, Salzgitter intends to take over HKM in Duisburg in full and continue its operation as sole shareholder on a reduced scale.

Following intensive negotiations and under the mediation of former First Minister of Hessen Roland Koch, Salzgitter AG and Thyssenkrupp Steel AG have reached an agreement on the continuation of the HKM steelworks. The plan is for Thyssenkrupp Steel to sell the HKM shares to Salzgitter AG on 1 June 2026.
Thyssenkrupp Steel had declared its intention to sell its 50 per cent stake in HKM. Salzgitter holds 30 per cent of the shares; French steel tube manufacturer Vallourec the remaining 20 per cent. Vallourec’s approval is still pending. ##However, Salzgitter reports that the agreement will entail job cuts.
With around 3,000 employees, HKM is one of Germany’s leading manufacturers of crude steel. Currently, HKM produces over four million tonnes of crude steel annually on two blast furnace routes, which is then processed by the shareholders. HKM’s supply to Thyssenkrupp Steel is set to expire at the end of 2028, instead of at the end of 2032 as previously planned.
With its integration into the Salzgitter Group, HKM could become part of the transformation towards low-CO₂ steel production in the Salzgitter Group in the future, commented Gunnar Groebler, CEO of Salzgitter AG. ##Marie Jaroni, CEO of Thyssenkrupp Steel, speaks of an important milestone in the future-proof positioning of Thyssenkrupp Steel: “With this agreement, we have succeeded in arriving at a fair and viable solution for all parties involved.”
Source: Salzgitter AG