en.Wedoany.com Reported - Germany's Salzgitter AG will fully acquire Hüttenwerke Krupp Mannesmann (HKM), a move aimed at completely transforming the integrated steel plant in Duisburg toward green steel production.
After HKM's two joint venture partners, Thyssenkrupp Steel Europe and Vallourec, announced their exit plans, Salzgitter AG took over all shares. The group plans to invest in an electric arc furnace in Duisburg to transform the plant and reduce carbon dioxide emissions from steel production by 90% in the long term. The transaction is about to be completed.
Due to economic challenges, this transformation will be accompanied by a significant reduction in the workforce. HKM plans to employ only about 1,000 people in the long term, compared to the current approximately 3,000. Without this workforce reduction, Salzgitter AG would not be able to complete the sole acquisition, and the integrated steel plant in Duisburg would face complete closure. The restructuring is expected to continue until the end of 2028.
Annual crude steel production will be reduced to 2 million tons. The statement noted that future changes will be handled responsibly and in a largely socially acceptable manner. Salzgitter AG will quantify the impact of the HKM acquisition on its revenue and profit forecasts for the 2026 fiscal year when it publishes its half-year financial report on August 11, 2026.
