Will the ailing steel group from Essen finally be entrepreneurially managed?
Will the ailing steel group from Essen finally be entrepreneurially managed?

29 April 2024 – 20% of the ailing steel group Thyssenkrupp Steel Europe is to be sold to an investor from the Czech Republic. Is this the end of communist trade union rule? The FDP lead candidate for the upcoming European elections, Marie-Agnes Strack-Zimmermann, sharply criticises von der Leyen. And Spanish stainless steel group demands more market protection in Europe.

Will thyssenkrupp Steel Europe sell 20% to the Czech Republic?

The second outcry of indignation in German trade union circles. Not only did thyssenkrupp Steel Europe (tkSE) announce a few days ago (and not surprisingly) that it intends to reduce crude steel capacities in Germany, but now 20% of the loss-making steel giant is also to be sold to an investor from the Czech Republic.

Capacity reduction at tkSE hardly surprising

It has been known for years that tkSE will reduce capacity. In order to meet its alleged climate protection targets, the Group has to get rid of its old blast furnaces. Nothing new, especially not for German politicians and the IG Metall labour union – even if they like to pretend that all this comes as a surprise and is completely unknown to them.

Will union rule now be broken?

But after years of mismanagement, the tkSE management may have finally started to think in a business and strategic sense. Even if this could mean the end of communist union rule, which has been actively preventing improvements at the steel manufacturer for years. Will the ailing company from Essen finally be managed as an entrepreneur?

Von der Leyen criticised for bureaucratic madness again

The FDP lead candidate for the upcoming European elections, Marie-Agnes Strack-Zimmermann, once again sharply attacked the current EU Commission President Ursula von der Leyen at the German FDP party conference at the weekend, accusing her of “creepy bureaucratism“.

Von der Leyen’s policy: overregulated and distant from citizens

Von der Leyen’s policies also follow the pattern that everything has to be regulated several times over. The CDU politician is also avoiding the voters. “Ms von der Leyen does not face up to the citizens. She is not travelling the country,” said Strack-Zimmermann. “But politics must be close to the people. She has to think in terms of the market economy. And that is not always cosy.”

EU stainless steel group calls for further market protection measures

After the EU stainless steel group Acerinox announced on Thursday that it would cease production at its Asian plant, further calls for tighter European market protection measures were made by the group’s management at the same time.

Now that the company wants to finally close its own plant in Asia, it is of course free to shoot its mouth off. What is often forgotten, however, is that Acerinox earns its billions in two of the most protected economic areas in the world. We therefore advise you to tidy up at home first.

We ourselves would prefer to stick to the facts on this topic and point out that the analysis of the data from the current EU Safeguard procedure has shown that there is no flood of stainless steel imports from Asia, nor has there ever been.

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