Salzgitter AG acquiring 100 Percent of HKM
Germany, July 9 -- Steel production continues at the southern Duisburg location that is steeped in tradition. Huttenwerke Krupp Mannesmann will become a wholly owned subsidiary of Salzgitter AG in the future, after the two co-shareholders, thyssenkrupp Steel Europe and Vallourec, announced their intention to withdraw from the joint venture. With this step, the Salzgitter Group is assuming full responsibility for HKM and aims to prepare the integrated steelworks for the challenges ahead with a clearly defined plan and a total commitment to the green transition.In early February, Salzgitter AG and thyssenkrupp Steel had agreed on a key issues paper regarding the complete acquisition of HKM. In the course of intensive and meticulous negotiatio...
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