Salzgitter AG Acquires Full Ownership of HKM

Salzgitter AG has finalized its acquisition of Hüttenwerke Krupp Mannesmann (HKM), taking full control as its sole shareholder. Previous stakeholders, thyssenkrupp Steel and Vallourec, have exited the joint venture. The integration into Salzgitter Group marks a new chapter for the traditional steel production site in southern Duisburg, which now aims at a significant green transition.

The acquisition includes plans to invest in an electric arc furnace, aiming to cut CO2 emissions by 90%. However, it comes with hefty workforce reductions, decreasing from 3,000 to around 1,000 employees. The alternative would have been the complete shutdown of the facility.

Salzgitter's CEO, Gunnar Groebler, emphasized responsible and socially compatible restructuring. Thyssenkrupp and Vallourec expressed satisfaction with the agreement, aligning it with their strategic goals. The workforce transition is expected to conclude by the end of 2028, aiming for a sustainable future for the historic site.