Overview
- Salzgitter and Thyssenkrupp agreed on a framework to transfer Thyssenkrupp Steel’s 50% HKM stake to Salzgitter effective 1 June 2026.
- HKM’s supply contract to Thyssenkrupp Steel will end in late 2028, brought forward from the previous 2032 date.
- The agreement followed mediation by former Hesse premier Roland Koch and still depends on Vallourec’s consent plus a favorable Fortführungsgutachten.
- Salzgitter plans to replace HKM’s two blast furnaces with an electric arc furnace and shrink the workforce from about 3,000 to roughly 1,000, with around €200 million in public funding sought for the new furnace.
- Financial details of the disentanglement remain confidential, while IG Metall and regional officials welcomed the plant’s continuation despite the scale of job cuts.